Although the FCC made a token effort at loosening media ownership rules yesterday, at the same meeting the Commission adopted a rule preventing any cable company from serving more than 30 percent of all pay-TV subscribers nationally. At least its arguable that media companies are consolidating, although that consolidation has not been accompanied by the decline in diversity that critics fear. The multichannel video industry, on the other hand, is growing. The telephone companies have entered the business and have peeled off 3.2 million customers as of Q1 07. The industry rightly believes this latest FCC overreach won’t survive a court challenge. More at Multichannel News here.