“In a divided vote today, the Federal Communications Commission took steps that could lead to more consolidation among TV broadcasters, reducing the number of sources of local news,” Jacob Kastrenakes reports for The Verge. “Today’s changes revolve around the media ownership cap — a limit on how many households a TV or radio broadcaster is allowed to reach.”

“The rules are meant to promote diversity of media ownership, giving consumers access to different content and viewpoints. The cap currently prevents a company from reaching no more than 39 percent of US households with broadcast TV,” Kastrenakes reports. “Large broadcasters hate the cap because it prevents them from getting even bigger. And since Trump took office and Ajit Pai was named chairman of the FCC, they’ve been lobbying to have it revised.”

“The FCC’s vote today starts to do that. First, it reinstates a rule known as the ‘UHF discount,’ which lets broadcasters have a bigger reach in areas where they use a certain type of technology. And second, it starts plans to revisit and raise the media ownership cap,” Kastrenakes reports. “It’s hard to say exactly how much the initial action will change. Major broadcasters, including Sinclair and Univision, are said to be bumping up against the cap… During a Senate hearing last month, Pai said that he’s also interested in lifting FCC restrictions that prevent the local consolidation of newspapers, radio stations, and TV stations.”

Read more in the full article here.

MacDailyNews Take: Put ’em together, take ’em apart. Lather, rinse, repeat. Ask Carl Icahn how profitable that is.

Money for nothin’ and chicks for free. Now that ain’t workin’ that’s the way you do it. Lemme tell ya them guys ain’t dumb. – Dire Straits