Fair point—any outlet that broadcasts their tripe should have their license revoked.
The network broadcasts—whoever distributes them—are enemy action at this point.
It wouldn’t stop them from making content and it wouldn’t stop them distributing content. You do realize that the supermajority of Americans no longer watch broadcast TV, right? More than 70% are using cable, satellite or streaming to the exclusion of broadcast. No license needed to produce or distribute content that way.
A better idea would be to pass laws requiring strict liability and truthfulness for items labeled as news and not discussion, to be enforced by massive civil lawsuits. Errors should be required to be corrected in the same time frame and to the same level of coverage (placement, etc) down to the second, or they should lose all ad revenue for the time period between the broadcast and the proper correction.
Take their money and they can’t do anything.