Elections have consequences. In the realm of media regulation, the 2008 election meant increased influence for proponents of so-called media "localism." The increased influence of localism at the FCC bore itself out in the recently-approved Comcast/NBC merger.
As a hypothetical, "localism" is relatively innocent. But in practice, it essentially amounts to a back-door mechanism for media regulation, which is why the FCC's most left-wing member, Michael Copps, has been an outspoken advocate of localism as part of his proposed "public value test."