The commission’s 3–2 vote along party lines will roll back rules that blocked companies from owning newspapers and broadcasters in the same local market, or from owning two or more TV stations unless there are eight competing stations in the area.

Arguing that the aging rules had been rendered outdated by modern technology, Republican Chairman Ajit Pai said in a statement that “the media ownership regulations of 2017 should match the media marketplace of 2017.” He said the flailing newspaper industry was a…