At the time of his death in 1974, he owned four radio stations.
In the largest markets, a company now will be allowed to own three stations.
The company now owns more than a dozen such stations.
The Government does not permit a single owner to own more than 12 stations.
They have to deal with the affiliates, which own and run local stations.
"Like radio, they want to own multiple stations in every market, even two networks."
The new company was worth 1 billion dollars at closing and owned 38 stations.
More recently, the commission gave the big station owners, like the networks, the right to own two stations in the same city.
The new provisions will allow a single company or network to own two stations in the nation's largest cities.
They restrict a company from owning more than eight radio stations in the same market.