LONDON (Brand Republic) – The US has scrapped media ownership legislation that prevented the four large US TV networks –- CBS, ABC, NBC and Fox -- from acquiring their smaller rivals.
The US government agency, the Federal Communications Commission, decided that the growth of the cable and satellite TV and internet markets means that the dual ownership rule no is no longer required to promote diversity and competition.
The relaxing of the law means that Viacom, which bought CBS last year, does not need to sell its UPN TV network. Under the old law, it would have had to dispose of the network by next month.
The FCC will rule later this year on whether to abolish other TV ownership laws, such as the limit of audience share that each broadcaster can hold. It currently stands at 35% in the US.
www.fcc.gov