The Federal Communications Commission is proceeding to revamp cable TV ownership limits in the wake of an appeals court ruling against the current 30% cap, Reuters reports.
FCC Commissioner Michael Powell declined to put a time frame on coming up with an alternative formula, but indicated the FCC would act on it within the year. "I certainly never like any suggestion that it will be longer than the year I'm operating in," Reuters quotes Powell saying.
Powell noted that the appeals court ruling was made with a bias toward encouraging competition in stead of diversity.
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