I mean, somewhere in there where you get a broadcasting license, you agree to serve the public. Permitting deceptive advertising just because you've received your pieces of silver is not serving the public.
ETA: this post is in reaction to this ad, which as discussed here posits a lot of things unrelated to Prop 8 as an argument for it, as though it defends people in the state against things other than the state's recognition of the right of gay couples to get and be married. Further discussion here.