TLDR:

• The FCC’s new equal-time guidance is already forcing broadcast networks to self-censor political interviews on talk shows
• CBS blocked a Stephen Colbert interview with a Texas Senate candidate — then the interview went viral on YouTube with 7.5 million views
• The FCC is now formally investigating ABC’s “The View” over the same rule
• A decades-old exemption protecting talk shows may be on its way out, with major implications for political speech on broadcast TV

A quiet regulatory shift at the Federal Communications Commission is rewriting the rules for what political content America’s talk shows can put on the air — and the fallout is already rattling some of the biggest names in broadcast television.

The FCC issued new guidance in January directing late-night and daytime hosts that they must give political candidates equal airtime. The agency said it could find no evidence any talk show currently on air qualifies for a “bona fide news exemption” that has shielded programs from the rule for decades.

The practical effect was swift. CBS blocked host Stephen Colbert from airing an interview with Texas Democratic Senate candidate James Talarico, citing fears it could trigger the rule. Instead, the interview was posted to YouTube — where it drew more than 7.5 million views, far exceeding Colbert’s nightly broadcast audience. Mr. Talarico raised $2.5 million in campaign donations within 24 hours.

Now the FCC has opened a formal enforcement action against ABC’s “The View,” FCC Chairman Brendan Carr confirmed Wednesday. Mr. Carr, a Trump appointee, had previously suggested investigating the program — whose hosts have frequently criticized President Trump — might be “worthwhile.”

A spokesperson for “The View” declined to comment.

Read more:

• FCC investigating ABC’s ’The View’ over equal time rule, says agency chairman

• Texas’ James Talarico raises $2.5 million after canned late-night interview

• Late-night host Stephen Colbert not backing down in public dispute with CBS bosses