Telecommunications Act of 1996. This leg of the bill was passed (via a Republican controlled Senate) with a large enough majority to insure no possibility of a Presidential veto, which Clinton wasn't thrilled over.
As the Bill's architect South Dakota Senator Larry Pressler said:

Sen. Larry Pressler (R-South Dakota): “I think the country is more ready for de-regulation and competition. And, so, in my favorite world it might be more de-regulatory, but legislation is the art of the possible.”

The idea that one company in one city can own several radio stations, TV stations, a cable operation and maybe a newspaper or two strikes me as anything but stimulating competition. Or maybe that's a piece of logic I've missed.

Legislation may be the art of the possible, but subterfuge is the art of the scam.