A view from ‘across the pond’ but still very relevant to the UK:
"For those who support a diverse and independent media, the last few decades have not been kind.
In 1996, antitrust restrictions were relaxed on radio ownership. During the last 20 years, the FCC has cracked down on, and closed up hundreds of “pirate” radio stations. The current FCC head has left no stone unturned in repealing any remaining antitrust or local accountability regulations for commercial media.
But there has been one bright spot. The rapid growth in low power FM (LPFM) stations has taken off, despite the “dereg-mania” policy toward commercial media. It is a trend that has been decades in the making."