By first describing the historical stance of the Federal Communications Commission (FCC) toward ownership of broadcast facilities and then describing the FCC's most recent policy statements, this report compares the differing viewpoints and recognizes that the new value or goal that seems to have been established conflicts with the past emphasis on diverse ownership. The report asks and answers the following questions: (1) To what extent is the new goal changing FCC ownership policy today? and (2) To what extent might it do so in the future? It then examines two Notices of Proposed Rulemaking on FCC ownership issues--one that would eliminate the Commission's cable-network cross-ownership restrictions, and one that would modify the Commission's group ownership regulation known as the Rule of Sevens. Regarding the first proposal, the report shows that certain efficiencies can be produced by allowing cable and network systems to engage in common ownership. The goal of diversity, the report contends, is not at jeopardy; and the repeal of the cross-ownership rule would serve the consumer's interests. Opposition, it notes, lies in questioning the extent to which efficiency will bring about real change and diversity of programing. Regarding the Rule of Sevens, the report posits that larger scale group ownership made possible through changing the rule would allow for both more efficient broadcasting and the creation of new networks that will compete with those already established and provide better programing from which the consumer can choose. (CRH)