New FCC media rules blocked

A U.S. appeals court refused Thursday to allow loosened federal rules on media ownership to take effect, dealing a blow to large broadcasters like News Corp. and Tribune Co. looking to extend their reach. ¶ The new proposed federal rules, like allowing one company to own both a newspaper and a television or radio station in the same town, will remain on hold until the Federal Communications Commission better explained them, the U.S. Court of Appeals for the Third Circuit said. ... CNN Money link