An amendment in the nature of a substitute which contains many of the provisions as in the bill, but restricts the regulation of cable rates to the basic services of commercial and public broadcasts. The substitute does not prohibit cable operators from requiring subscribers to buy higher levels of service in order to receive individual premium channels, and does not prohibit cable operators from selling or transferring ownership within three years of its acquisition, or place restrictions on foreign ownership. The amendment permits the extention of exclusive contracts in existence as of June 1, 1990, regardless of their effect upon competition.