>> The fairness doctrine of the United States Federal Communications Commission (FCC), introduced in 1949, was a policy that required the holders of broadcast licenses to both present controversial issues of public importance and to do so in a manner that was—in the FCC's view—honest, equitable, and balanced. The FCC eliminated the policy in 1987 and removed the rule that implemented the policy from the Federal Register in August 2011.
But who decides what's true? And why should we let them? Majority consensus is an easy answer, but we'd need something else if we were to regulate truth at a level we could enforce on journalists.
I'm personally more worried about that question spiraling out of control than I am about offering equal air time.
What it means is not news, thats opinion.
Seems to me around the time that it was ended there were several other things going on.
The advent of cable news networks which gave a massive incentive to sensationalism and strong partisan ties as multiple players joined the space with a need to create a sustainable viewership.
Satellite feeds became common ensuring a single message instead of having a layer of abstraction in the form of a local or regional newscaster; instead of relaying facts, they can relay a highly opinionated version.
Local and independent news stations were being purchased and consolidated into national telecom companies with their own partisan editorial bends, a la Nexstar and Sinclair.
I have to believe that all of the above had a much greater influence on news discourse in the past few decades than the elimination of the fairness doctrine. Furthermore, if you give government the power to regulate anything; always expect the current party in power to use that regulation as a weapon. Can you imagine what our leaders would do given even more power to control and manipulate the media narrative? Ending this was a good decision.
On TV or radio, you can only have so many stations. But with the internet, people can make a new web site and publish there, they're not limited by the available spectrum. Therefore, the kind of regulation that was needed in a constrained environment (broadcasted TV/Radio), does not really make sense when those constraints are lifted.
As for alternatives, I think we just need people to collectively decide that some other platform (ideally a decentralized one) is better than the incumbent. Facebook depends on its inertia. Suppose every Facebook use went cold turkey and switched to something else instead (let's say Mastodon for the sake of argument). In a year, nobody would be talking about Facebook's monopoly.
Where I think things get sticky right now, though, and I'll even say -the- reason we haven't seen innovation in social media, is that incumbents on the scale of Facebook have the capital sufficient to either buy or sue any plausible competition into the ground before the competition has a chance at taking their market share. Imagine a world where Facebook had been blocked from burying Instagram and WhatsApp with money!
I think I would be in favor of greater regulation against these winner-takes-all tactics on a more economic level, although exactly how that regulation would work in a way that was both fair and non-trivial to evade I don't know.