The big (if slightly dull) media news story of the year was the passing of the revised Communications Act. Among a whole host of changes in media and telco legislation perhaps the most important aspect of the Act for the music world was the slackening of media ownership rules. The big radio groups are now allowed to own a bigger stake of the commercial radio market in any one city, media companies can own both publishing and radio outfits in the same areas, and, perhaps most importantly, non-British based media groups can now buy into UK radio.
That said - the Radio Authority, soon to be swallowed up by OfCom, made two controversial decisions that suggest those who govern radio ownership aren't going to be that easy a pushover.
Firstly when radio group GWR bought 50% of the Bristol franchise of Chrysalis Radio's Galaxy Network everyone expected the purchase to get the go ahead from the regulator - even though it pushed GWR's radio interests in the city over the old market share quota and the new legislation was still going through the rubber stamping process. But the regulator turned them down. Then the Radio Authority blocked attempts by the Midland News Association, publishers of the Shropshire Star, to buy their local radio station Telford FM on public interest grounds.
As for the big global players, while both Clear Channel and Disney have expressed an interest in buying into British radio, they both say they're in no rush. So, for the time being, while the Communications Act was big news, but its impacts are yet to be realised.