He was a wise man... At one time here in the USA the FCC enforced rules limiting how many radio stations (also TV and newspapers) one company could own.. But thanks to Mega-Merger-Maina those rules kept getting "Relaxed" to the point of vanishing. I lost a favorite radio station and several of my friends their jobs as a result... (They got new jobs). (And a new station WRCJfm dot org) It got down to the point where all MAJOR media was owned by just half a dozen companies (I thin PBS was not included in that) all conservative billionaire owned. Today there are lots of "little' companies again. many of those however go way beyond the limits of old.. And most of them do not do news/editorial Look up SMILE-FM or WMRP-LP for examples
(I know the regional chief engineer for SMILE and the owner of WMRP)