What is the battle over the air waves: FCC versus private radio industry about?
The "private radio industry" is radio stations, almost all of which are privately owned. There are also certain frquency bands allotted to amateur radio, cell phones, TV, police etc.
The FCC sells rights to certain commercial frequencies and regulates their use, to avoid interference problems. It isn't really a "battle". There is currently a controversy about domination of the radio spectrum by companies that own very many stations as well as newspapers, and a lack of diversity in programming.
Recent rules prohibited television companies from owning newspapers or radio stations in the same communities, or from one company owning more than 35 percent of all local broadcast stations in the nation. Many such regulations have been removed under the present Bush administration.