Walden Introduces Bill to Repeal Cross-Ownership Ban With Yarmuth, Who Mentions Fake News

House Communications Subcommittee Chairman Greg Walden, R-Ore., introduced his promised legislation to repeal the newspaper broadcast cross-ownership ban Wednesday, joining with Rep. John Yarmuth, D-Ky. It's "the latest in our continued efforts to modernize outdated rules and promote investment in the communications sector,” said Walden, incoming chairman of the Commerce Committee who first mentioned such a bill early in September (see 1609080057). “Eliminating this relic of the disco era will provide much needed flexibility to the many newspapers and broadcasters throughout the country that provide important local news coverage and encourage greater investment in original journalism.” The lawmakers posted the two-page bill text, dated Sept. 20. Yarmuth said the bill would give companies flexibility: “As we’ve seen the rise in fake news and its consequences, it is increasingly important that we do all we can to protect legitimate sources of news.” NAB CEO Gordon Smith lauded the bill’s introduction. It's "an important step towards aligning outdated broadcast ownership rules with Americans’ 21st century information needs,” Smith said. “For too long, radio and television broadcasters have been saddled with archaic regulations preventing them from investing in newspaper ownership.” The News Media Alliance likewise was happy for "solid bipartisan support for commonsense legislation that reverses an outdated rule that does more harm than good," said CEO David Chavern. Congress remains in session for a handful of additional days.