Broadcast Station Ownership Act of 1984

Broadcast Station Ownership Act of 1984 - Amends the Communications Act of 1934 to prohibit the Federal Communications Commission from approving an application for a television broadcasting station license or for the transfer of any such license if such approval would result in the applicant controlling: (1) television broadcasting stations the aggregate signals of which can be received by more than 30 percent of U.S. television households; or (2) very high frequency television broadcasting stations the aggregate signals of which can be received by more than 25 percent of such households. Prohibits the Commission from approving an application for a radio or television broadcasting station license or license transfer if such approval would result in the applicant controlling a certain combination of television stations, amplitude modulation radio stations, and frequency production radio stations as determined according to a specified formula. Establishes higher limitations on station ownership with respect to minority controlled stations in which a person has an ownership interest of not more than 49 percent.

Directs the Commission to report to Congress in ten years on the effectiveness of this Act in: (1) promoting opportunities for ownership of local broadcast properties by minorities and small businesses; (2) preserving diversity of broadcast station ownership; and (3) promoting greater competition in the production and distribution of broadcast programming.