Whoa.... Conservatives or Conservatism succeeds when allied with Truth, objective reality. The Liberals, modern day liberals insist Truth is what works for you, or for them. "Objectivity" is defined differently by most thinking people in both camps differently. There can be no discussion without first agreement on the definition of terms. There can be no agreement between those who believe 2+2 = 4 (everywhere in the Universe) and those who believe 2 + 2 = 4 except when it equals 5.
Now scientific, or absolute, certainty, is beyond human capacity. We might agree even insist absolute certainty must exists, even if we do not undertand it exhaustively but the weight of historic certainty - the evidence, for example, that Caesar existed and that Christ came out of that tomb, is largely within our grasp.
What I'm stumbling along here trying to say is that a Government appointed commission is incapable of determining "objectivity." Your suggestion borders on the recreation of Nixon's "Fairness Doctrine, the requirement that broadcast stations provide those who disagree with an opinion "reasonable opportunity to reply."
If that Doctrine had been renewed, Rush Limbaugh and what we know today as Conservative Tak Radio would not exist.
Neutrality is a myth. The Liberals believe they are Neutral, and it is a cherished ideal of "moderates" everyehere.
The way to defang the MSM is by continuing to take away their eyeballs. In time, the Big Three will be out of the news business altogether, acting only as a Pool for their affiliates. The New Media will grow with the increasing ease and talent of it's writers.
Clinton may be the last President they will pick for us, but their audience will die off with the retired audience that is already most of what remains of its "eyeballs."