Recently, we have heard cries for television and radio to come to the rescue and save the electoral process from the corrupting influence of money, by offering candidates free air time. Moreover, members of Congress are elected directly by the people, they stand before American citizens to have their actions judged. Technology has evaporated any meaningful distinctions among distribution media, making it unsustainable for the courts to segregate broadcasting for First Amendment purposes.
Technology makes ever more efficient use of spectrum.
Broadcast channels are continually increasing. Cable, internet, and VCRs provide an untold number of outlets for speech. This theory, which derives primarily from the Supreme Court's 1969 decision in Red Lion Broadcasting Co. v. FCC, has been the target of much criticism. At the very least, any responsible government official who has taken an oath to support and defend the Constitution must squarely address this important question. They are no more scarce than any other natural resource, such as oil, timber or gas, that is an essential input to other industries.