Sounds like the problem is how affordable you want your entertainment to be. As for me, I don't want unelected bureaucrats regulating any more than is constitutionally allowed. Let the states take it up; that's what your PUC does.

Insurance companies are national companies that are regulated by individual state's insurance commissions. Companies that sell movies should be no different. It is better to have 50 hands on 50 switches than one hand on one switch.