No, the purpose is to ensure that politicians can rape conservatives in the 60 days prior to an election without anyone being able to buy space in the media to let the public know what they actually did. The media can use the law an an excuse when they refuse to sell time or space.
Until and unless the dirty money is taken out of elections only the special interests will have any real input into the governance of this country.
Nearly all "dirty money" in politics stems from two things: (1) a willingness (if not eagerness) for politicians to "give away" taxpayers' money if they think it will help their career, and (2) the eagerness of many politicians to have the government cripple businesses that don't provide them suitable support.
The problem is not that people and businesses can give money to politicians, but is rather that politicians use unconstitutional means of pressuring others to give them money and/or votes. When the real problem is a government that has taken too much power upon itself already, giving that same government more power does not seem like a wise solution.
I believe you will find that the "media" is much less effective than believed. The American voter (the ones who actually vote) know all they need to know well in advance of the 60 day cutoff period. The trash advertisements that now come are really a period of disinformation. That doesn't serve democracy very well.