Michelle begins the episode by discussing the potential transformation of the radio industry through deregulation, examining its possible effects on operations and competition. She highlights the importance of infrastructure and essential technology in maintaining the industry's vitality. The episode covers key highlights from the National Association of Broadcasters' conference, focusing on advocacy efforts such as the AM Radio for Every Vehicle Act. Michelle also analyzes the sale of the Radio.com domain and its implications for the industry. The resignation of iHeartMedia's Chief Legal Officer is discussed in the context of industry turnover. The episode concludes with takeaways on how deregulation might impact the future of radio.