National Association of Broadcasters (NAB) President and CEO Curtis LeGeyt is advocating for the FCC to change its long broadcast ownership rules to compete with Big Tech.
In an address to The Media Institute, LeGeyt opened his speech by calling the ownership regulations currently in place outdated. He emphasized the place that outlets like YouTube currently hold in the media marketplace, sharing his belief that it is an uneven playing field.
“The FCC should first eliminate this national audience cap that undermines broadcasters’ ability to compete with these global behemoths,” said LeGeyt. “The FCC must modernize local TV and radio ownership rules. These are relics of the past. Current FCC rules largely prevent TV broadcasters from owning two of the top four-rated broadcast stations in a media market. Not two of the top four most watched video services in a market, just broadcast stations.
“This ignores the vast array of competition broadcasters now face, from streaming platforms to social media giants. And most importantly the fact that in many markets, communities would be best served by a pool of investment in one or two strong local newsrooms, rather than four under-resourced entities. Eliminating these regulations will allow local stations to aggregate resources, invest in journalism and strengthen their service to communities,” LeGeyt added.
LeGeyt continued by noting that he looks forward to working with lawmakers and the FCC to “modernize” the ownership regulations. The NAB President and CEO believes the future of broadcasting is at stake with the current rules.
“Allowing broadcasters to compete will give local stations the ability to invest in our journalists, our highly valued content, our weather technology and our newsrooms. We are doing our part to serve our communities at the very time they need us most. And we look forward to working with the FCC and Congress to do their part to ensure local broadcasters can be unshackled from the outdated rules that have held us back for so long. The time to act is now,” he concluded.
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