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FCC’s ownership rules change may spur consolidation

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The Federal Communications Commission agreed to propose easing limits on one owner holding a television station and newspaper in a top 20 U.S. market.

The FCC plan keeps existing caps on TV and radio station ownership. “The public interest is best served by these modest, incremental changes to our rules,” the agency said in its notice on the proposed rule.

Approval of the FCC action may spur acquisitions, increasing the value of media companies. Gannett Co. (GCI), owner of television stations and newspapers such as USA Today, rose 1 percent to $13.39 yesterday in New York trading.

Full story: FCC’s Ownership Rules Change May Spur Consolidation – Bloomberg.