The study of broadcasting regulation started to creep into the edges of the media studies curriculum. This wind of change should be welcomed, because it will aid the apprehension of the major forces that shape the communication environment. However, globalization in the face of specialization necessitated probes in sections of the society by scholars in the different areas. That is why media scholars cannot do without looking at issues as they concern media practices. An appraisal of the statutes of regulation of the Nigerian broadcast industry is pertinent at this period when the whole world is talking about digitization of broadcasting.