Chairman Julius Genachowski says the current process began with a series of workshops over two years ago. Here are highlights of the just-issued Notice of Proposed Rulemaking, on which the FCC is accepting comments:

- Local radio ownership: The rule and the limits would not be changed, retaining the current AM/FM "sub-caps." However, the agency "seeks comment on the impact of the introduction of digital radio", and about how the local radio ownership rule "should account for other audio platforms." Also on "whether to adopt a waiver standard."

- Radio-television cross-ownership rule: "We propose to eliminate the rule in favor of reliance on the local radio rule and local television rule. We believe that the local radio and television ownership rules adequately protect our localism and diversity goals and seek comment on this proposal."

- Newspaper-broadcast cross-ownership: Basically, the proposal is to retain the top-20 DMA rule proposed by Republican FCC Chairman Kevin Martin in 2006. That plan was criticized in many quarters and taken to court. It is highly possible that once the current FCC produces its quadrennial ownership review and a new rulemaking, that will also be taken to court. Read the FCC's Notice of Proposed Rulemaking here. Comments are due 45 days after publication in the Federal Register.