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The Media Power Grab

What 2025 Deregulation Means for You

In the fast-evolving world of media, where streaming platforms vie for eyeballs alongside broadcast channels, and podcasts blend seamlessly with traditional radio offerings, the regulatory framework guiding ownership and competition is poised for potential upheaval. While technological convergence has been unfolding for well over a decade, legal constraints have often lagged behind, rooted in a time when television, radio, and print were distinct pillars of communication. The year 2025 is increasingly being discussed as a turning point when the U.S. media industry might witness significant steps toward deregulation—reducing or removing certain ownership rules, cross-media restrictions, and antiquated limitations on how many stations a single entity can own in a local market.

For media executives monitoring the political and economic climate, this looming possibility raises both exciting opportunities and complex challenges. On one hand, new freedoms could allow for greater reach, stronger negotiating power, and the ability to experiment with cross-platform innovations. On the other hand, the path to realizing these benefits can be fraught with complexities, especially for companies looking to grow through mergers and acquisitions (M&A). This article offers a concise explanation of why deregulation could happen in 2025, explores how it might affect different parts of the media industry, and analyzes the hurdles that a wave of M&A activity could create. Finally, it highlights how Think Consulting can guide media executives in navigating both the policy shifts and the strategic decisions that accompany an era of consolidation.

Why Deregulation Could Happen

Evolving Political and Policy Landscape

One of the primary drivers behind potential deregulation is a shifting political climate at the federal level. The Federal Communications Commission (FCC) frequently adjusts its stance in response to the prevailing administration’s priorities. The new administration and Brendan Carr are favoring market-driven solutions over strict regulatory controls and may see loosening ownership caps and cross-ownership rules as a way to ignite economic growth and allow media companies to compete effectively with rapidly expanding digital platforms.

The regulatory debate is also influenced by questions about the public interest. Many argue that localism, diversity of voices, and competition—foundational principles behind current rules—can still be upheld even if cross-ownership restrictions are relaxed. Supporters of deregulation contend that the sheer number of new entrants to the media space, from YouTube creators to podcast networks, already provides more content variety than ever before. Thus, legacy regulations designed for a “three-network era” are often viewed as increasingly obsolete.

Technological Convergence

A second factor propelling the push toward deregulation is the blurring line between traditional and digital media channels. Consumers no longer distinguish as sharply between broadcast TV, cable, streaming services, and social media networks. In a world where linear and on-demand viewing co-exist seamlessly, older structural barriers may feel outdated. Proponents of deregulation argue that since nearly all media companies now compete on a broader digital playing field, a regulatory approach that measures market concentration primarily within distinct segments—such as radio or local TV stations—no longer reflects reality.

Moreover, the advance of mobile technologies and over-the-top (OTT) platforms has dramatically changed content consumption patterns. Regulators who see the industry this way often assert that rules designed to protect local newspapers or limit the number of stations a company can own per market do little to address contemporary competitive threats, such as emerging streaming services or global technology giants.

The FCC is Rewriting the Rules – Will Your Company Survive or Thrive?

Radio

If local ownership rules are relaxed, radio operators may be able to own more stations within a single market, creating “clusters” that share programming and resources. This could translate into economies of scale for advertising, talent, and content creation. Additionally, digital-first strategies—such as podcast production—would be easier to integrate when rules around cross-promotion are relaxed. Radio groups might also find new opportunities for hybrid services that combine FM broadcast, podcasts, and online radio platforms under one umbrella.

Broadcast Television

Television station groups could see the greatest immediate impact. Broadcast TV ownership caps currently limit the percentage of the national audience a station group can reach. A rollback of these limitations might prompt rapid consolidation, where larger networks absorb smaller station groups to wield more negotiating power with advertisers and cable/satellite providers. Stations could then invest more heavily in local and niche programming, leveraging the ability to cross-promote on digital platforms and potentially offer integrated advertising packages that pair a station’s on-air presence with a network’s streaming service.

Networks (Cable and Broadcast)

Networks, whether cable-based or broadcast, would benefit from relaxed rules around vertical integration. Some regulations have historically prevented networks from owning too many local affiliates or entering distribution deals that could stifle competition. With fewer hurdles, networks could control more aspects of the value chain—from content creation and production to distribution and advertising and see greater profitability by amortizing costs across multiple local affiliates.

Studios (Film and Television Production)

Get ready for a wild year. Studios are rethinking time tested strategies to better reflect new business models. Deregulation could allow them the space to experiment with pruning declining assets, consolidation of IP libraries or unprecedented tech/media mergers. Studios might find it easier to merge or partner with distribution platforms (traditional, streaming or technology) in a less restrictive regulatory environment. This could translate into more robust direct-to-consumer models, shorter release windows, and streamlined distribution. A bigger corporate footprint could also help fund large-scale production and marketing efforts that can better compete with global streaming giants. At the same time, studios will need to tread carefully: scaling up too much might trigger antitrust concerns, particularly if there is a risk of monopolizing certain genres or content categories. The only certainty is that studios will look very different at the end of 2025.

Streamers (OTT Platforms)

While streamers are not subject to many of the legacy broadcast rules, they stand to gain from a more relaxed regulatory environment if it fosters strategic partnerships with traditional media companies. For instance, streamers could more easily license premium content from broadcast or cable networks and develop multi-layered advertising deals that combine linear and digital audiences. The rise of ad-supported streaming channels, or FAST (free ad-supported streaming television) services, could also gain momentum as cross-ownership restrictions soften, allowing streamers to leverage broadcast advertising expertise alongside digital analytics.

Are You Ready for the M&A Wave?

As the industry braces for deregulation, many media companies will see acquisitions, partnerships, and mergers as the most direct route to capitalizing on expanded ownership freedoms. While a friendlier regulatory environment lowers some barriers to consolidation, it does not eliminate them altogether. Below are some of the primary challenges media executives must navigate:

Regulatory & Antitrust Hurdles

Even under a more permissive regime, regulators such as the Department of Justice (DOJ) and the Federal Trade Commission (FTC) will scrutinize large-scale transactions to prevent excessive market power. A merger that results in a single entity controlling a majority of local news stations in a region could raise red flags. Additionally, mergers involving large studios and their distribution arms may face concerns about limiting the market for independent producers.

Executives must be prepared for a thorough review of market share, audience demographics, and the resulting impact on advertising rates. The political climate is always a wild card—regulatory agencies may be vigilant about optics, even if the technical guidelines allow for the consolidation. Media companies therefore must build a solid case to demonstrate that any merger benefits consumers, promotes innovation, and upholds localism.

Cultural Integration and Brand Management

Merging creative organizations can be inherently tricky. Studios, broadcasters, networks, and radio stations each have unique cultures shaped by programming goals, audience relationships, and historical legacies. A newly combined entity must find ways to harmonize these cultures, ensuring that employees and creative talent do not feel alienated or sidelined.

For instance, a radio company steeped in local community outreach may bristle at policies from a large broadcast conglomerate that aims for more standardized, national-oriented programming. Similarly, a major film studio with a “Hollywood-first” ethos might clash with a leaner, digital-native streamer that is used to iterative development and constant pivoting. Maintaining brand identity is also critical. Overshadowing a beloved local station or a niche streaming service with a massive corporate brand can harm consumer loyalty.

Operational and Technological Integration

Consolidation often means combining technology stacks, ad sales platforms, customer data repositories, and more. This can involve reconfiguring or replacing entire systems to handle shared workflows, audience analytics, or content distribution. The expenses and timeline for these transitions are frequently underestimated.

Media executives should also be mindful of the distribution rights and content libraries that are absorbed through M&A. A studio might bring a treasure trove of existing shows or movies, but if the metadata, rights, or licensing agreements are stored in incompatible systems, monetizing that library at scale may be more complicated than expected. Smoothly merging digital assets from multiple companies can prove especially challenging when each entity uses proprietary or legacy software.

Content and Talent Retention

When different creative departments merge, it can lead to fear and uncertainty among writers, on-air personalities, showrunners, or other creative talent and that’s never good. Individuals who thrive on creative freedom might worry about being stifled by a larger corporate structure that emphasizes synergy, brand alignment, or cost-cutting.

Talented creators can be quick to leave if they sense that acquisitions may compromise editorial independence or lead to changes in compensation structures. For executives, the goal is not merely to keep these high-profile talents, but also to assure them that the newly enlarged enterprise will foster creative expression and maintain high production standards. Ultimately, a “people strategy” must be integral to any M&A plan.

Consumer Expectations and Brand Loyalty

As companies merge and create mega-media conglomerates, consumer expectations inevitably rise. If a subscriber is paying for multiple services—say, a cable bundle plus a streaming add-on—they may question why certain content is still locked behind paywalls or inconvenient distribution channels. Similarly, local listeners may wonder whether a favorite radio station will lose its local flavor under centralized ownership.

Managing these perceptions through marketing and communication is essential. Companies need to convey that consolidation leads to better experiences—be it more diverse content offerings, improved streaming technology, or more convenient bundled packages. Failure to do so can backfire; frustrated consumers might see consolidation as an excuse for price hikes or homogenized content.

New Media Freedoms Could Mean Big Wins or Costly Missteps

While a freer regulatory environment in 2025 may open the floodgates for unprecedented M&A and consolidation, success is far from guaranteed. The reality is that bigger isn’t always better if the strategic and operational complexities are not carefully navigated. From performing meticulous antitrust due diligence to orchestrating the seamless integration of different cultures, brands, and technological ecosystems, media executives face a formidable road ahead.

This is where Think Consulting steps in. Our team of seasoned experts specializes in guiding media organizations through every stage of the M&A life cycle—from pre-acquisition strategy and deal evaluation to post-merger integration and rebranding. We understand the nuances of both legacy broadcast operations and cutting-edge digital platforms, allowing us to craft solutions tailored to your unique objectives. Whether you aim to bolster local news coverage, expand your streaming capabilities, or unify a diverse portfolio of stations and content libraries, Think Consulting provides the insights and hands-on support required to thrive.

Above all, our approach emphasizes the human dimension. We believe that talent retention, cultural cohesion, and innovative content strategies are as critical to long-term success as regulatory compliance and financial forecasting. Our consultants work closely with media executives to preserve the best of their organizations’ history while adapting to a new future defined by scale, synergy, and relentless technological advances. With Think Consulting by your side, navigating a new era of deregulation becomes less about risk and more about opportunity—seizing the potential to shape tomorrow’s media landscape on your own terms.

Reach out to Think

Ready to navigate the shifting media landscape? Contact Think Consulting today to strategize your next move and stay ahead in this era of transformation.

About the Author

Todd Parkin (Vice President of Growth & Managing Director of Media) is a seasoned media executive with a remarkable track record of driving innovation and rethinking business models in the fast-moving media landscape. Read more.

Articles: merger or acquisition events in 2025

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