Today, in an attempt to anger fans of both regulation and deregulation, the FCC approved two new rules. The first one restricts cable companies to owning no more than 30% of a market; the second one “gives owners of newspapers more leeway to buy radio and television stations in the largest cities.” One nice thing about the first rule is that Comcast can’t buy any more cable companies. One bad thing about the second one is that it will likely mean that Rupert Murdoch will win “permanent waivers to control two television stations in New York, as well as The New York Post and The Wall Street Journal.”

The New York Times describes the passing of the rules as a victory for FCC chairman Kevin J. Martin, but then goes on to point out that in the process, “he has expended significant political capital and made political enemies of powerful industry groups and influential lawmakers.” Both rules are expected to be challenged considerably in the coming weeks, so they may not last long into 2008.

“F.C.C. Reshapes Rules Limiting Media Industry” [New York Times]
(Photos: Getty)

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