FCC mulls loosening broadcast ownership rules as it undertakes review

[Entrance to Federal Communications Commission in Washington, D.C., USA.]
JHVEPhoto

The Federal Communications Commission on Tuesday voted at its open committee meeting to review the option of lifting a ban that does not permit mergers among the "Big Four" broadcast networks and is also considering loosening other laws related to media asset ownership.

The U.S. regulatory agency is awaiting public comments before it reverses the rule that prohibits combinations among the top four U.S. networks: NBC (NASDAQ:CMCSA [https://seekingalpha.com/symbol/CMCSA]), ABC (NYSE:DIS [https://seekingalpha.com/symbol/DIS]), CBS (NASDAQ:PSKY [https://seekingalpha.com/symbol/PSKY]), or Fox (NASDAQ:FOX [https://seekingalpha.com/symbol/FOX]) (NASDAQ:FOXA [https://seekingalpha.com/symbol/FOXA]).

The FCC has to review certain broadcast ownership rules once every four years to ascertain if they serve public interest and are relevant to the current media industry trends.

The agency is also seeking public input on whether to retain, modify or eliminate the local radio, local television and dual network rules.

"In recent years, numerous online audio and video streaming services have emerged, fundamentally changing how broadcast radio and television compete in the media marketplace," FCC chairman Brendan Carr said at the meeting. "Our broadcast ownership rules should reflect these changes."

"Our primary goal is to promote investment in local broadcasters who provide trusted news and information vital to the communities they serve. We will also consider whether public safety, national security and other public interest goals should be part of this review process," Carr added. "If we determine that any rule no longer serves the public interest, we will fulfill our statutory duty to modify or eliminate those rules."

MORE ON DISNEY, COMCAST, ETC.

* Wall Street Lunch: NFL Eyes Bigger TV Bucks - Soonest [https://seekingalpha.com/article/4825528-wall-street-lunch-nfls-goodell-considers-renegotiating-tv-deals-with-media-partners]
* Disney: Patience Is Needed (Upgrade) [https://seekingalpha.com/article/4824334-disney-patience-is-needed-upgrade]
* Disney: Nearing Our Buy Zone, Compelling Media And Entertainment Prospects [https://seekingalpha.com/article/4823905-disney-stock-nearing-buy-zone-compelling-media-entertainment-prospects]
* Fubo shareholders give nod for combination with Disney's Hulu amid ongoing DoJ review [https://seekingalpha.com/news/4500300-fubo-shareholders-give-nod-for-combination-with-disneys-hulu-amid-ongoing-doj-review]
* Warner Bros. Discovery most likely to continue with split plans - analyst [https://seekingalpha.com/news/4500214-warner-bros-discovery-most-likely-to-continue-with-split-plans---analyst]