FCC Removes Nationwide Cap Limiting Local TV Ownership

The Federal Communications Commission voted along party lines Thursday to repeal a nationwide audience cap that historically has limited the number of TV-viewing households a single broadcaster could reach.  FCC Chairman Brendan Carr led the vote overturning two decades of precedent in favor of a new case-by-case approach and teeing up a legal issue that is almost certainly headed for federal appeals court. Bloomberg's Matthew Schettenhelm joined Bloomberg Intelligence to discuss.