FCC relaxes cross-media ownership rule

The Federal Communications Commission voted 3-2 to allow broadcasters in the largest markets to own both print and media outlets, CNN Money reports.
Kevin Martin, chairman of the FCC, pushed the plan to reform a more than 30-year-old rule. The change now permits companies in the 20 largest markets to own both a newspaper and a radio or television station.
"We cannot ignore the fact that the media marketplace is considerably different than it was when the newspaper broadcast cross-ownership was put in place more than 30 years ago," said Martin, at the agency's meeting.
To read CNN's full report click here.