Abstract
There has been a dramatic shift in the philosophy of broadcast regulation. After decades of managing the local radio market structure with policies of ownership regulation, Congress and the FCC have mandated policies of ownership deregulation. This study examines the effect of deregulation policies on the small market radio industry. Recent research has explored issues of radio market structure and performance in larger markets; however, few studies have examined the impact of policy in smaller markets. This study analyzed 52 metropolitan statistical areas with populations less than 125,000. The study used regression analysis to identify the effect of deregulation on the number and type of radio owners in the small markets. Overall, the results revealed that the Telecommunications Act of 1996 had a dramatic impact on the number of local radio owners in the small markets.
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