Under current FCC rules, a company can own one of the top four television station in each market area. The FCC does not limit the number of television stations a single company can own nationwide, so long as it’s share of the total national audience remains below 39%. Also, none of the four major networks (ABC, CBS, Fox, and NBC) can merge with each other. FCC rules prohibit a single company from owning a broadcast station (radio or television) and a daily newspaper, if that broadcast station’s service area completely encompasses the newspaper’s city of publication. A company that owns a television station can own at least one radio station as well, and more depending on the total number of independently owned radio stations in the region.

All of these limitations are currently under review and could be loosened.