In “Breaking The News,” a great story that appeared in Mother Jones magazine, Eric Klinenberg basically cites the FCC and its loosening/repeal of the cross-ownership ban as the primary force eroding the daily newspaper industry. While competitive forces, the web, technology, and a general explosion of media alternatives have certainly dealt substantial blows to what might be an outdated business model and value proposition, there is no doubt that large media conglomerates have found it difficult to maintain a strong, differentiated local presence in the midst of cost-cutting, layoffs, and frequent ownership/management changes. It also the case that rather than increasing local coverage, cross-media ownership has resulted in less local coverage, at least according to an internal FCC study that was buried and eventually ordered destroyed. While the recent efforts of billionaires like Jack Welch, David Geffen, Eli Broad, and Ron Burkle to buy their local dailies might appear to be an equal mix of egocentrism and altruism, a return to local ownership might be the key to keeping the industry alive a little bit longer.