[sweetliberty]

"I haven't a clue as to what I have done to merit a special thanks, but I am glad that whatever it may have been was of some use"

You contributed some of the links, however I think I deleted one of them because when I tested it it didn't work anymore, even though it did the first time.

As to your proposal, mostly I like it, but the part about legally gagging the media will never fly. They will blather on under the guise of free speech if they have to make it up.

[demosthenes the elder]

The Federal government claims ownership and regulatory control over the airwaves. Whether the media like it or not, it could be rammed down their throats.
As to media penalties, I have been pondering that issue for a long time. I do not want to infringe upon free speech, nor do I want to set up a precedent which would allow later folks to do so. However, I am strongly convinced that the broadcast media need to be broken of their bad habits. Such as "reporting" false information, "reporting" their opinions cloaked as fact, "reporting" outright fabrications, etc...
The current libel and slander laws do not work as written.
I would like to see the media punished for every instance they publish falsehood and bias, and punished in a way that will get them where they live.
Possibility: Any time a news outlet publishes information later shown to be false - especially information which could very easily be identified as speculation at the time of publication or could easily have been fact-checked prior to publication - their carrying station(s) should be barred from airing commercials for a length of time exactly equal to the interval between initial airing of the falsehood and the airing of a detailed and abject retraction of the false statement(s).
Think about it...