You have no idea what you are talking about.
The FCC only handles rate regulations. 99% of the regs are based in the local authority or the states. It varies from market to market.
Trust me, as someone who spent twenty years building these systems you really want larger bodies doing the regulating. I had so many encounters with local politicians at the state and city level who were the most corrupt people I had ever met. Out and out crooks.
If you do not like what cable provides, get your programming through the net, or through satellite (or even over the air.) Cable TV has plenty of competition.
The issue is FCC license on the airwaves. All McCain is doing is removing it to the locals. I say let the FCC relinquish those rights to broadcast companies to locals. Customers will decide who stays and who goes. This is based on Cloud tv viewing from
Aereo If the CBS pulls from the airwaves then anyone should be able to broadcast in the Air on that channel. Also would not sports teams that are local be braced to make more revenue if the FCC does not have rules they can prohibit view local games. Corrupt politician at the local level are immune at this point but States and local commissioners need more visibility.