Under the heading “Later criticism” there is a bit of an explanation; I guess the ownership rules changed so stations were consolidated to fewer owners.
> The legislation eliminated a cap on nationwide radio station ownership and allowed an entity to own up to four stations in a single market. Within five years of the act's signing, radio station ownership dropped from approximately 5100 owners to 3800. Today, iHeartMedia is the largest corporation with over 860 radio stations under its name across the nation.
Under the heading “Later criticism” there is a bit of an explanation; I guess the ownership rules changed so stations were consolidated to fewer owners.
> The legislation eliminated a cap on nationwide radio station ownership and allowed an entity to own up to four stations in a single market. Within five years of the act's signing, radio station ownership dropped from approximately 5100 owners to 3800. Today, iHeartMedia is the largest corporation with over 860 radio stations under its name across the nation.