Because of 'yellow journalism' in the past, Hearst, Pulitzer and other major owners of newspaper chains over a 100 years ago and the fact they actually created a war (Spanish American War), and other acts of malfeasance, there was a law that no person or company can own more than one major media in any one market. Such as all the newspapers or TV station, paper and radio station. This ended under the Clinton administration, with the blessing and prodding of the Republicans. In the form of the Telecommunications Act of 1996
This resulted in 6 companies controlling 90 percent of all forms of communication.