The Globe and Mail reports in its Thursday edition that the way we watch television is changing rapidly, but our regulations are not keeping pace. Guest columnists Benjamin Dachis and Daniel Schwanen, researchers at the CD Howe Institute, say the federal government's recently announced review of all things telco is an opportunity to catch up. The review should replace Canadian content rules with direct subsidies, focus regulatory hearings on the benefits of competition between technologies and drop ownership restrictions. Ottawa now supports Canadian content in many ways. It requires broadcasters to offer a proportion of Canadian content, and funds that content either directly or by requiring broadcasters to chip in. Today's TV world is fundamentally different than that of the 1950s, but the way our government promotes Canadian content has not adapted. To keep up, the coming federal review of Canadian cultural and broadcasting policies should focus on three reforms. First, stop relying on broadcasters to finance Canadian content. Second, the CRTC should not take a heavy hand in setting regulations. Third, the federal government should drop the rules on who is allowed to own what in the sector.