The Fairness Doctrine was a policy of the Federal Communications Commission, spanning from 1949 to 1987, that required radio and television stations to air all sides of important or controversial issues, and give equal time to all candidates. The Supreme Court upheld the Fairness Doctrine in 1969, in Red Lion Broadcasting v. FCC.
In 1986, a federal court of appeals ruled that the Fairness Doctrine was not law and could be overturned without Congressional approval. Congress responded by passing a bill in 1987 to establish the doctrine as law. It received 3-1 support in the House and 2-1 support in the Senate. The support was broadly bipartisan, with even Republicans like Newt Gingrich and Jesse Helms voting in favor of it. But President Ronald Reagan vetoed it, and Congress did not override the veto. Source Watch
"A license permits broadcasting, but the licensee has no constitutional right to be the one who holds the license or to monopolize a...frequency to the exclusion of his fellow citizens. There is nothing in the First Amendment which prevents the Government from requiring a licensee to share his frequency with others.... It is the right of the viewers and listeners, not the right of the broadcasters, which is paramount".
— U.S. Supreme Court, upholding the constitutionality of the Fairness Doctrine in Red Lion Broadcasting Co. v. FCC, 1969.
Illogically ridiculed by the 'right', The Fairness Doctrine, the law of the land for almost 40 years, reaffirmed as law by a large majority of Congress, and ruled constitutional by the Supreme Court, was overruled by one man, Ronald Reagan, with a mere stroke of his veto pen.
The 'airwaves' belong to the public. The public deserves to hear all points of view over the airwaves they 'own', and not just the views of those who have the most money, or a monopoly of radio stations.
Ronald Reagan, of all people, should not have been allowed to single-handedly overturn the Fairness Doctrine in the first place, and bringing it back, reversing Reagan, would be the right, and the constitutional, thing to do.