What happened was that in less than a generation, a media landscape that should have been moving toward more diversity, more localism and more competition was transformed into a market controlled by a handful of players, too often providing little more than infotainment, canned music and program homogenization. … The apologists told us this was the natural result of changes in technology …  The facts told another story. The huge debts these mega-companies took on to curry favor with investors and hedge-fund operators overwhelmed broadcaster obligations to be good stewards of the people’s airwaves. The public’s right to know got lost in the frenzy of financial hyper-speculation.

FCC Commissioner Michael Copps, The Future of the Internet Public Hearing, August 19, 2010