"The basis and form of media regulation is in dire need of being reinitialized," the FCC Chairman said at a press conference this morning. In announcing that the commission is planning a "full and comprehensive" examination of the mass-media marketplace and the Telecom Act, it sounded as though Powell may be ready to redraw some of the FCC's mass-media rules. "Much of the regulatory structure and analytical foundations that exist today were built around TV and radio as it existed in the golden age," he said. "The current rules, standards and principles do not take any account of very dramatic changes in the media landscape." Powell also noted that the FCC needs to re-evaluate its diversity policies: "Diversity does remain a vital objective, but the instruments for preserving it have to be reconsidered."