Left leaning article but factual
https://truthout.org/articles/democracy-in-peril-twenty-years-of-media-consolidation-under-the-telecommunications-act/
The negative impact of the law cannot be overstated. The law, which was the first major reform of telecommunications policy since 1934, according to media scholar Robert McChesney, “is widely considered to be one of the three or four most important federal laws of this generation.” The act dramatically reduced important Federal Communications Commission (FCC) regulations on cross ownership, and allowed giant corporations to buy up thousands of media outlets across the country, increasing their monopoly on the flow of information in the United States and around the world.
“Never have so many been held incommunicado by so few,” said Eduardo Galeano, the Latin American journalist, in response to the act.
Twenty years later the devastating impact of the legislation is undeniable: About 90 percent of the country’s major media companies are owned by six corporations. Bill Clinton’s legacy in empowering the consolidation of corporate media is right up there with the North American Free Trade Agreement (NAFTA) and welfare reform, as being among the most tragic and destructive policies of his administration.
More troubling is that these filings come on the heels of a report from Politico that the Clinton Foundation has received donations, some of them very large, from most of all the major media companies directly: Viacom, News Corporation, Reuters, NBCUniversal, Newsmax, Time Warner, Mort Zuckerman (owner of US News &World Report and the New York Daily News), Comcast, AOL Huffington Post Media and Robert Allbritton (owner of Politico). George Stephanopoulos, one of ABC News’ most visible journalist and a former staffer for President Clinton, has also been under scrutiny for not disclosing a $75,000 donation to the foundation.