Change will let "Trump-aligned billionaires" buy more stations, advocacy group says.

Congress set ownership limit at 39%, but FCC claims authority to kill the rule.

The move sets the stage for more corporate consolidation in the media industry.

In a 2-1 vote, the commission eliminates a rule that kept station groups from reaching more than 39 percent of TV households.

The effort will likely face legal trouble as critics insist Congress is the only federal body that is authorized to lift the cap.