Also, cable providers were so eager to have this legislation pass, they agreed to delay full price deregulation until 1999. Under the new law, cable companies have much greater freedom to provide telecommunications services over their cable systems and to invest in other telecommunications companies. Bell operating companies are permitted to provide cable programming and to own cable systems outside of their service areas. Radio and television broadcasters also have new freedoms. A company may own or control an unlimited number of radio broadcast stations, subject to certain local concentration restrictions.
Broadcasters also can now own a cable system.
The law permits public utilities to provide telecommunications services, and makes it clear resellers will be able to acquire a regional Bell company's services on reasonable and nondiscriminatory terms, and, in certain circumstances, at wholesale rates. Market experts envision a period of increasing competition, restructuring, mergers, and the emergence of significant new players. Some of this change has already taken place. Disney Corp. has taken over ABC-CapCities, and CBS has merged with Westinghouse. Then there is the emergence of new companies frenetically bidding for the rights to spectrum for wireless and next generation personal communication services.