ADVANTAGES

Companies because they manage the media, people because the people are the ones who buys them and the government because they regulates them.
The FCC is a government agency with power to regulate interstate and international media.
There are rules mainly at preventing that the ownership of the media is in the hands of few people or large companies.
The FCC said that a company could not own more that eight radio stations, no own both a newspaper and a television or radio station in the same market.
Later, this law was removed.

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