The Media Access Project is the public interest law firm that represented Prometheus in their suit against the FCC. They’ve posted a useful summary of the Court’s decision in PDF format on a page with links to their statement, the full text of the decision and various press accounts.
As the summary makes clear, the FCC’s rules are not completely thrown out. Rather, the stay which the Court put in place at the beginning of the trial remains in place, until the FCC satisfies the Court in rewriting and justifying ownership rules.
Thus, it’s important to keep in mind that we will be seeing further review and work on media ownership rules from the FCC. What we hope is that Powell learned a bit of lesson–if he’s capable of it–that the public will need to be heeded more this time.