Time to have Federal Trade Commission breakup Big Media monopolies, dualopolies, and oligopolies.
Time for FCC to return radio stations and TV stations to local or regional ownership.
Meh, most of these companies aren't particularly profitable anyway. You're seeing things balance themselves out slowly, but surely.
The one thing holding things up is a company known as Educational Media Foundation. They run K-Love, which is supposed to be a Christian network. And any time one of these big corporate owners runs up against an ownership cap or is short on cash and needs to sell a station, EMF is almost always the one who gets to buy it. Where do they get the money? Well, they're constantly running pledge drives, for one.
But EMF keeps scarcity afloat on the FM band by making sure there's always a buyer for the big corporate stations. On the AM end, it seems they just let licenses expire because there hasn't been a really successful AM format since the 1990s.