A bill to restore the broadcast ownership rules under the Communications Act of 1934 to the status quo ante the enactment of the Telecommunications Act of 1996.

Repeals provisions of the Telecommunications Act of 1996 which direct the Federal Communications Commission (FCC) to: (1) modify its multiple ownership rules to eliminate the limitation on the number of radio and television stations which may be owned or controlled by one entity nationally and to limit the number of radio stations an entity may own, operate, or control in a local market, with an exception when the FCC determines that such ownership, operation, or control will increase the number of radio broadcast stations in operation; (2) increase to 35 percent the national audience reach limitations for television stations; and (3) conduct a rulemaking proceeding to determine whether its rules restricting ownership of more than one television station in a local market should be retained, modified, or eliminated.

Requires the FCC to rescind any action taken by it under such provisions.