The rule was introduced during an era in which there were far fewer media outlets and regulators wanted to ensure that listeners had access to both sides of political debate.
The FCC abandoned the policy in 1987 during the Reagan administration, saying it violated broadcasters’ free speech rights, but the regulation remained on the books...
...FCC Chairman Julius Genachowski told lawmakers in June that the agency planned to dump the rule as part of a broader effort by the Obama administration to eliminate outdated and unneeded regulations. The agency’s media bureau said Monday that it will eliminate 83 rules including the Fairness Doctrine.
Excuse me, Mr. President, but a little Fairness Doctrine enforcement would go a long way in relieving the Republican/Corporate shit storm we've lived in since the Reagan Administration... dick.