Here is a link to the key court decision that pushed the FCC back when it attempted to expand the power of media companies. At the heart of the case is how many radio and TV stations any one entity can own. Given the huge infrastructure investments that are being made to shift to a digital world this is a critical issue to the industry. Wall Street will try to justify consolidation and mergers as required by this needed investment. But as the EMI unions and community groups argue what does that mean for diversity of content and creativity?

2006 Review of the Media Ownership Rules