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The Fairness Doctrine was not always a part of FCC rules; it was introduced in the context of of anti-Communist sentiment in the US in 1949 (Report on Editorializing by Broadcast Licensees, 13 F.C.C. 1246 ). The Fairness Doctrine remained a matter of general policy, applied on a case by case basis until 1967 when certain provisions of the Doctrine were adopted as a rule by the FCC. 
In Red Lion Broadcasting Co. v. FCC, 395 U.S. 367 (1969), the Supreme Court upheld the constitutionality of the Fairness Doctrine in a case of personal attack in a broadcast, under challenges that it violated the First Amendment. Although similar laws had been deemed unconstitutional when applied to newspapers, the Court cited a Senate report (S. Rep. No. 562, 86th Cong., 1st Sess., 8-9 ) that said that radio stations could be regulated in this way because of the limited nature of the public airwave spectrum.
However, in 1974 in the case of Miami Herald Publishing Co. v. Tornillo (418 U.S. 241), writing for a unanimous court, Chief Justice Warren Burger wrote, "government-enforced right of access inescapably dampens the vigor and limits the variety of public debate".
It's true that the Republicans came close during the period of 2000-2006, but that push for power has failed.
Originally posted by Justin Oldham
it's important for us to understand that the rights and priviledges accorded to us under any law each come with certain unspoken strings. Freedom of speech means in part tolerance of some speech. It's the sort of thing they used to teach in civics courses. One of the reasons why I am concerned about this mis-use of this particular Federal law is that most Americans won't see this one coming until its too late.