The Federal Communications Commission was worrying about media monopolies long before Spiro Agnew ever left Maryland. Last week the FCC finally moved to curb joint broadcasting-publishing companies that it considers to hold "undue influence on local public opinion." It promulgated a rule forbidding the owner of any TV station, AM-FM radio operation or newspaper to acquire another outlet in the same community.
At the same time, the FCC proposed for future action a drastic follow-up regulation that would break up existing multiple-media combines in local markets. The second measurewhich faces a long and undoubtedly contentious inquiry before it can take effectwould...
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