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				 "With all of the Fake News coming out of NBC 
				and the Networks, at what point is it appropriate to challenge 
				their License? Bad for country!" Trump, a Republican, wrote in a 
				post on Twitter on Wednesday. 
 Trump and his supporters have repeatedly used the term "fake 
				news" to cast doubt on media reports critical of his 
				administration, often without providing any evidence to support 
				their case that the reports were untrue.
 
 Trump kept up his criticism of the media in an appearance with 
				Canadian Prime Minister Justin Trudeau, saying: "It is frankly 
				disgusting the press is able to write whatever it wants to 
				write."
 
 In a tweet late on Wednesday, Trump said: "Network news has 
				become so partisan, distorted and fake that licenses must be 
				challenged and, if appropriate, revoked. Not fair to public!"
 
				
				 Any move to challenge media companies' licenses, however, would 
				likely face significant hurdles.
 The Federal Communications Commission, an independent federal 
				agency, does not license broadcast networks, but issues them to 
				individual broadcast stations that are renewed on a staggered 
				basis for eight-year periods.
 
 Comcast Corp, which owns NBC Universal, also owns 11 broadcast 
				stations, including outlets in New York, Washington, Los 
				Angeles, San Francisco, Boston, Dallas and Chicago.
 
 A Comcast spokeswoman referred questions to NBC, which did not 
				immediately respond.
 
 ABC, owned by Walt Disney Co, declined to comment.
 
 Shares in media companies fell, potentially reflecting concerns 
				the war of words could worsen. Comcast was down 0.8 percent, 
				while Disney shed 1.4 percent. CBS Corp fell 1.2 percent and 
				Twenty-First Century Fox slid 2.8 percent.
 
 Recon Analytics analyst Roger Entner called the market response 
				a "short-term irrational knee-jerk reaction" and said Trump 
				faced essentially insurmountable hurdles to getting licenses 
				pulled.
 
 A spokesman for FCC Chairman Ajit Pai did not immediately 
				comment.
 
 Gordon Smith, the chief executive of the National Association of 
				Broadcasters, defended the media's free speech rights.
 
				
				 "It is contrary to this fundamental right for any government 
				official to threaten the revocation of an FCC license simply 
				because of a disagreement with the reporting of a journalist," 
				Smith said in a statement.
 ABC, owned by Walt Disney Co, declined to comment.
 
 Numerous Democrats criticized Trump and urged Pai to denounce 
				Trump's comments.
 
 Senator Ed Markey wrote Pai on Wednesday asking him to 
				"withstand any urges from President Trump to harm the news media 
				and infringe upon the First Amendment," a reference to the U.S. 
				Constitution's free speech and press freedom guarantee.
 
			[to top of second column] | 
            
			 
			Democratic U.S. Representative Frank Pallone said Trump "seemed to 
			threaten broadcasters' licenses only because he disagreed with their 
			reporting. This threat alone could intimidate the press and lead to 
			skewed and unfair reporting."
 FCC Commissioner Jessica Rosenworcel responded to Trump by tweeting 
			a link to an FCC fact sheet. "Not how it works," she said on 
			Twitter.
 
 'FAIRNESS DOCTRINE'
 
 When reviewing licenses the FCC must determine if a renewal is in 
			the public interest, according to an agency fact sheet on its 
			website.
 
			The FCC said in the fact sheet it expects "station licensees to be 
			aware of the important problems and issues facing their local 
			communities and to foster public understanding by presenting 
			programming that relates to those local issues."
 The agency does not issue similar licenses for cable networks such 
			as CNN and MSNBC, or regulate internet news or other websites.
 
 The FCC has said the First Amendment "expressly prohibits the 
			commission from censoring broadcast matter" and that its role "in 
			overseeing program content is very limited."
 
 In the early 1970s, then-President Richard Nixon and his top aides 
			discussed using the FCC's license renewal process as a way of 
			punishing the Washington Post for its coverage of the Watergate 
			burglary that ultimately brought down his presidency.
 
			 
			NBC News has reported on tensions between Trump and Secretary of 
			State Rex Tillerson, and has said Trump sought a dramatic increase 
			in the U.S. nuclear arsenal during a meeting with national security 
			advisers in July. NBC reported Tillerson made his "moron" comment 
			after that meeting.
 Trump on Saturday also suggested he should get "equal time" because 
			of what he described as late-night television hosts' "anti-Trump" 
			material.
 
 The FCC's equal time rules apply in limited cases to air time for 
			political candidates and not to criticism of elected leaders.
 
 Trump may have been referring to the "Fairness Doctrine" that was 
			designed to ensure broadcasters present opposing viewpoints about 
			public issues. Republican President Ronald Reagan's administration 
			eliminated it in 1987.
 
 (Writing by Makini Brice and David Shepardson; Additional reporting 
			by Roberta Rampton in Washington and Jessical Toonkel in New York; 
			Editing by Frances Kerry, Paul Simao, Grant McCool)
 
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