Streaming giants such as Amazon Prime Video, Netflix, and YouTube dominate Americans’ living rooms today because they can reach virtually everywhere without the regulatory shackles that are decimating traditional broadcasters. Now, the Federal Communications Commission is considering updating a quarter-century-old rule to give consumers more choice on entertainment and news, while revitalizing local broadcast TV.

The rule in question is the national audience reach cap, a regulatory fossil that prohibits ownership of TV stations that together reach more than 39% of American households. The cap was first implemented in 1941, years before the transistor was invented and decades before cable television, high-speed internet, and paid streaming services, all of which are ubiquitous today.