We allowed the Murdoch family to ruin America.

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3. Tragically, it happened on Clinton's watch.

FCC Offers Murdoch a Way Out on Broadcast Ownership Rule

By JUBE SHIVER Jr
May 5, 1995 12 AM PT
TIMES STAFF WRITER
WASHINGTON —

The Federal Communications Commission voted Thursday to allow media mogul Rupert Murdoch to avert a costly restructuring of his television empire if he can show that the current ownership of his eight Fox TV stations is in the public interest.

The unanimous vote capped a controversal 18-month investigation of allegations that Murdoch’s Australia-based media company, News Corp. Ltd., had run afoul of a federal law prohibiting foreign firms from owning more than 25% of a U.S. broadcasting company.

Although the FCC approved Murdoch’s TV station purchases in 1985, FCC General Counsel William Kennard says it wasn’t until a year ago that the agency learned that News Corp. owned 99% of the equity in the stations. The FCC ruled Thursday that the ownership arrangement did indeed violate the law, but invited Murdoch to apply for a waiver--and most of those involved expect the waiver to be granted. The FCC had been sharply divided over how to resolve the issue, with the staff recommending that Murdoch be forced to undertake a costly restructuring to satisfy the law.

An emotional and misty-eyed Murdoch, seated in the standing-room-only audience at the FCC with his wife, daughter and son-in-law, was given 45 days to comply with the law or seek a waiver on the grounds that the ownership arrangement is in the public interest.

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[link:https://www.latimes.com/archives/la-xpm-1995-05-05-fi-62827-story.html|
Full article]