All this would be worrisome if it were not for advancing technology, and changes in broadcasting itself.
AM radio is propped up only by talk radio, for the most part, and if it were not for talk radio (conservative talk radio), AM radio in the US would be going the direction of AM radio in Canada, where huge 50kw powerhouses are now owned by “radio clubs”.
The future of radio is not on your radio. The means of delivery of content will be irrelevant (IPOD, MP3, cell phone).
The only control the government has on radio/TV is on those facilities that are granted by the FCC, and therefore must play by the rules.
The Fairness Doctrine would only accelerate the process.
And what makes you think the FCC doesn’t have the Internet in its sights?