Answer to Question 1
President Bill Clinton signed the Telecommunications Act of 1996 into law in February 1996, representing the first major reform since the Communications Act (47 U.S.C. 101 et seq.).This 1996 Act affected broadcast radio and television regulation and other forms of communication including telephone services. As a result of this Act, ownership of broadcast radio and televisions began to consolidate as national ownership limits for radio were eliminated and local ownership restrictions were based on market size. This Act also reflected the FCC's general policy move away from regulation and toward deregulation. With very few exceptions such as university radio stations, broadcasters still need a federal license from the FCC Licenses are temporary and do not constitute ownership rights (although stations themselves can be owned).
Answer to Question 2
Broadcasting radio (and television) over the Internet has become known as webcasting. Webcasting involves the traditional over-the-air radio broadcasters who transmit their actual broadcast signals on the Internet in real time from the station's website. Webcasting is also made up of purely Internet-based broadcasters sometimes referred to as cybercasters.
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Human Communication: The Basic Course, 14th Edition