Yes, cable media have been abusing that loophole to become propaganda machines. Given how corrupt the supreme court is, having given permission to politicians to accept bribes from anyone they feel like taking money from, that loophole is not surprising. Neither are the results.
It's not a "loophole." As I've shown, regulation of the media has ALWAYS been prohibited under 1A. Regulation of "broadcast stations" was a limited exception based on the "unique" nature of that medium. AND it's the liberal Justices that have made this clear. Red Lion and Miami Herald ...
were decided unanimously when SCOTUS was at its most liberal. And the Moody decision was led by the liberal Justices, including Kagan, who wrote the opinion. The most corrupt Justices, Alito and Thomas, did not sign on to that opinion. You are misinformed on the legal aspects here.
Further, every private entity, even "news media" has a right to be a "propaganda machine" if they so choose. Propaganda is merely information disseminated to promote a specific cause, often a legal one. It's often biased and/or misleading but the expression of a political opinion is propaganda.
And as has been made clear in SCOTUS precedent, including by Kagan last summer in Moody, every private entity has a right to express their opinion without interference from the gov't by being compelled by the gov't to carry other viewpoints. And that's not even getting to the larger intrusion ...
that would be regulations requiring them to publish accurate facts, which as shown, which would be against 1A principles except for those limited and long-standing 1A exceptions.
To be clear on this matter. Regulation of "broadcast stations" was not the rule. It was a narrow exception to a very long-standing rule that prohibits regulation of the media. That rule is 1A.