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Independent media is essential to democracy. It took the fall of the almost 32 year-long authoritarian New Order regime (1967-1998) before Indonesians finally experienced democracy again in 1998. The diversity of media outlets and content become an essential aspect of Indonesia’s new democracy. However, previous research has shown that this diversity has been threatened by the issue of media ownership concentration and conglomeration. Moreover, unlike the FCC in the US that initiated an empirical inquiry into the nature of diversity in the electronic media, the Indonesian Broadcasting Commission does not have any parameter to measure content diversity. While media ownership and diversity of content are interconnected, academic research tends to concentrate on only one side, either the economic organisation of media industries or the content of media products. This study will seek to fill in the gap by analysing whether media ownership facilitates diversity or promotes uniformity of media content.