Final answer:
The Telecommunications Act of 1996 drastically changed radio station ownership by removing ownership caps, which enabled consolidation and the emergence of media conglomerates, while reducing competition and diversity in programming.
Step-by-step explanation:
The main effect of the Telecommunications Act of 1996 on radio station ownership was a significant increase in the number of stations that could be owned by a single entity, which led to a surge in mergers and acquisitions, ultimately resulting in the consolidation of radio station ownership.
Notably, it removed the cap of forty radio stations, allowing for massive growth in corporate radio station ownership, with companies like Clear Channel Communications expanding their portfolio exponentially.
This change facilitated the creation of media conglomerates, reduced competition, and impacted the amount and diversity of public affairs programming. The Federal Communications Commission (FCC) was shifted from a regulatory role to more of a monitoring role, overseeing acquisitions to prevent monopolies.