Here's the transcript from LexisNexis:
O'REILLY: I think the questions can be asked. But look, the money involved now in the media, it's all about money in Washington. And you know that. I mean, you've been there long enough. If you're going to have the Fairness Doctrine, that means MSNBC goes right off the air.
INGRAHAM: No, it doesn't.
O'REILLY: The whole prime time lineup goes down the.
INGRAHAM: No, it doesn't.
O'REILLY: .right down the drain.
INGRAHAM: I mean, it doesn't. No, the Fairness Doctrine doesn't apply to cable. It applies only to public airways, which by law includes the broadcast airwaves of radio and network television. It would not apply to cable television. That would have to be some new type of legislation. And I can't imagine that would pass First Amendment scrutiny.
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