The basic upshot is that teenage girls are presented in sexualized situations on television more frequently than adult women, that the rating/warning systems that are supposed to indicate when this content is present are not provided a majority of the time, and that most of the situations referred to or shown are considered 'unhealthy' even by secular psychological standards.

More information on the report author, the Parents Television Council, here  (for those who like to dig a little deeper).  They claim they are a "non-partisan education organization".  That's encouraging.  However Tim Conway, Billy Ray Cyrus, Naomi Judd, Dean Jones and about 20 other people are on their board of advisors.  That's....eclectic!