Story perspectives

Media Ownership Plummets: From 50 Companies to 5

9/22/2025

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Summary

Story summary

The FCC was created by the Communications Act of 1934, which set limits on media ownership.
The “rule of sevens” restricted ownership to seven AM, FM, and TV stations, capping reach at 25% of Americans.
Deregulation began in the 1970s and intensified during Reagan's presidency, increasing ownership caps.
The 1996 Telecommunications Act removed radio ownership caps and raised TV limits to 35%.
Media consolidation has decreased ownership from 50 companies in 1983 to 5 today, with major digital platforms similarly controlled.

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Story summary

The FCC was created by the Communications Act of 1934, which set limits on media ownership.
The “rule of sevens” restricted ownership to seven AM, FM, and TV stations, capping reach at 25% of Americans.
Deregulation began in the 1970s and intensified during Reagan's presidency, increasing ownership caps.
The 1996 Telecommunications Act removed radio ownership caps and raised TV limits to 35%.
Media consolidation has decreased ownership from 50 companies in 1983 to 5 today, with major digital platforms similarly controlled.