The Telecommunications Act of 1996 paved the way for radio industry consolida¬tion by allowing companies to own up to eight stations in a single market. In March, 1996, The Wall Street Journal reported over $2 billion in radio acquisition deals in one month alone. In Denver, Jacor Communications, one of the largest radio-broadcasting companies in the United States, acquired Noble Broadcasting Group, holder of four Denver radio stations, thereby doubling its Denver-area presence. While some indus¬try insiders believed that consolidation would curtail program diversity, others saw the increase in advertising leverage by these large companies contributing to more pro¬gram diversity, as stations could experiment with alternative programming without compromising market share.