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This is Bill Clinton's fault.
https://truthout.org/articles/democracy-in-peril-twenty-years-of-media-consolidation-under-the-telecommunications-act/
https://en.wikipedia.org/wiki/Telecommunications_Act_of_1996#Later_criticism
I didn't see anything in the Wikipedia article mentioning Clinton other than him signing the bill. But it does mention that the bill was introduced by a Republican senator and as you mentioned, had support from 97% of Congress which is well above the presidential veto threshold. Was this something specifically that Clinton was pushing for at the time that wasn't mentioned in the Wikipedia article? I was too young to be paying attention to politics in 96 so I don't know the historical context.
The historical context in this case is the date on the article, which is during the 2016 Democratic Primary. It's a tortured attempt to cast a bad light on Hillary Clinton by proxy by casting Bill Clinton in a bad light by blaming him for something that, as you've pointed out, would have happened without him.
It's the president's fault as much as anything is the president's fault during their administration. He didn't send it back, he didn't hinder its progress, he didn't sway congress to not support it. More over, it seems, he or his administration or whomever he friends were in congress didn't have the foresight to consider how damaging the law would be. The reason it got so much support was because Clinton was promoting it as if to be one of his greatest achievements; and because the telecom industry was lobbying the fuck out of Washington at the time and has only continued to grow larger and larger year over year thanks in part to the Citizen's United ruling (to be clear, not Clinton's fault). The internet likes to bash Reagan for the Fairness Doctrine but (1) that was limited to broadcast television and (2) they forget how impactful the Telecommunications Act was on consolidating media ownership.