NewsGuard’s ‘real news’ seal of approval helps spark change in fake news era

Facebook CEO Mark Zuckerberg is surrounded by members of the media as he arrives to testify before a Senate Judiciary and Commerce Committees joint hearing regarding the company’s use and protection of user data, on Capitol Hill in Washington, U.S., April 10, 2018. REUTERS/Leah Millis TPX IMAGES OF THE DAY

By Kenneth Li

NEW YORK (Reuters) – More than 500 news websites have made changes to their standards or disclosures after getting feedback from NewsGuard, a startup that created a credibility ratings system for news on the internet, the company told Reuters this week.

The latest major news organization to work with the company is Britain’s Daily Mail, according to NewsGuard, which upgraded what it calls its “nutrition label” rating on the paper’s site to “green” on Thursday, indicating it “generally maintains basic standards of accuracy and accountability.”

A representative of the Daily Mail did not respond to several requests for comment.

NewsGuard markets itself as an independent arbiter of credible news. It was launched last year by co-chief executives Steven Brill, a veteran U.S. journalist who founded Brill’s Content and the American Lawyer, and Gordon Crovitz, a former publisher of News Corp’s Wall Street Journal.

NewsGuard joins a handful of other groups such as the Trust Project and the Journalism Trust Initiative which aim to help readers discern which sites are credible when many readers have trouble distinguishing fact from fiction.

After facing anger over the rapid spread of false news in the past year or so, Facebook Inc and other tech companies also say they have recruited more human fact checkers to identify and sift out some types of inaccurate articles.

These efforts were prompted at least in part by the 2016 U.S. presidential election when Facebook and other social media sites were used to disseminate many false news stories.

The company has been criticized by Breitbart News, a politically conservative site, which described NewsGuard as “the establishment media’s latest effort to blacklist alternative media sites.”

The way NewsGuard works is this: red or green shield-shaped labels are visible in a web browser window when looking at a news website if a user downloads NewsGuard’s software from the web. The software is free and works with the four leading browsers: Google’s Chrome, Microsoft Corp’s Edge, Mozilla’s Firefox and Apple Inc’s Safari.

‘CALL EVERYONE FOR COMMENT’

NewsGuard’s investors include the French advertising company Publicis Groupe SA and the non-profit Knight Foundation. Thomas Glocer, the former chief executive of Thomson Reuters, owns a smaller stake, according to NewsGuard’s website. News sites do not pay the company for its service.

The startup said it employs 35 journalists who have reviewed and published labels on about 2,200 sites based on nine journalistic criteria such as whether the site presents information responsibly, has a habit of correcting errors or discloses its ownership and who is in charge of the content.

News sites field questions if they choose to from NewsGuard journalists about its performance on the nine criteria.

“We call everyone for comment which algorithms don’t do,” Brill said in an interview, highlighting the difference between NewsGuard’s verification process with the computer code used by Alphabet Inc’s Google and Facebook in bringing new stories to the attention of users.

Some news organizations have clarified their ownership, financial backers and identity of their editorial staff after interacting with the company, NewsGuard said.

GateHouse Media, which publishes more than 140 local newspapers such as the Austin American-Statesman and Akron Beacon Journal, made changes to how it identifies sponsored content that may appear to be objective reporting but is actually advertising, after being contacted by NewsGuard.  

“We made our standards and practices more prominent and consistent across our digital 460 news brands across the country,” said Jeff Moriarty, GateHouse’s senior vice president of digital.

Reuters News, which earned a green rating on all nine of NewsGuard’s criteria, added the names and titles of its editorial leaders to the Reuters.com website after being contacted by NewsGuard, a Reuters spokesperson said.

NewsGuard upgraded the Daily Mail’s website rating on Thursday to green after giving it a red label in August, when it stated that the site “repeatedly publishes false information and has been forced to pay damages in numerous high-profile cases.”

The Daily Mail objected to that description, and started discussions with NewsGuard in January after the red label became visible for mobile users of Microsoft’s Edge browser, NewsGuard said.

NewsGuard has made public many details of its exchange with the Daily Mail on its website.

“We’re not in the business of trying to give people red marks,” Brill said. “The most common side effect of what we do is for news organizations to improve their journalistic practices.”

(Reporting by Kenneth Li; editing by Bill Rigby)

Facebook, Google to tackle spread of fake news, advisors want more

FILE PHOTO - Commuters walk past an advertisement discouraging the dissemination of fake news at a train station in Kuala Lumpur, Malaysia March 28, 2018. REUTERS/Stringer

By Foo Yun Chee

BRUSSELS (Reuters) – Facebook, Google, and other tech firms have agreed on a code of conduct to do more to tackle the spread of fake news, due to concerns it can influence elections, the European Commission said on Wednesday.

Intended to stave off more heavy-handed legislation, the voluntary code covers closer scrutiny of advertising on accounts and websites where fake news appears, and working with fact checkers to filter it out, the Commission said.

But a group of media advisors criticized the companies, also including Twitter and lobby groups for the advertising industry, for failing to present more concrete measures.

With EU parliamentary elections scheduled for May, Brussels is anxious to address the threat of foreign interference during campaigning. Belgium, Denmark, Estonia, Finland, Greece, Poland, Portugal, and Ukraine are also all due to hold national elections next year.

Russia has faced allegations – which it denies – of disseminating false information to influence the U.S. presidential election and Britain’s referendum on European Union membership in 2016, as well as Germany’s national election last year.

The Commission told the firms in April to draft a code of practice or face regulatory action over what it said was their failure to do enough to remove misleading or illegal content.

European Digital Commissioner Mariya Gabriel said on Wednesday that Facebook, Google, Twitter, Mozilla, and advertising groups – which she did not name – had responded with several measures.

“The industry is committing to a wide range of actions, from transparency in political advertising to the closure of fake accounts and …we welcome this,” she said in a statement.

The steps also include rejecting payment from sites that spread fake news, helping users understand why they have been targeted by specific ads, and distinguishing ads from editorial content.

But the advisory group criticized the code, saying the companies had not offered measurable objectives to monitor its implementation.

“The platforms, despite their best efforts, have not been able to deliver a code of practice within the accepted meaning of effective and accountable self-regulation,” the group said, giving no further details.

Its members include the Association of Commercial Television in Europe, the European Broadcasting Union, the European Federation of Journalists and International Fact-Checking Network, and several academics.

(Reporting by Foo Yun Chee; editing by Philip Blenkinsop and John Stonestreet)

Russian ‘fake news’ machine going mad, says French envoy to U.S.

FILE PHOTO: French Ambassador to the U.N. Gerard Araud addresses the Security Council during a meeting about the situation in the Middle East, including Palestine, at United Nations headquarters in New York, July 22, 2014. REUTERS/Eduardo Munoz

PARIS (Reuters) – France’s envoy to the United States on Tuesday accused Moscow of spreading fake news after Russia’s Defence Ministry said a French frigate in the Mediterranean had launched missiles on Syria.

The ministry initially said a Russian military plane had been shot down by Israeli warplanes and that Russian air control radar systems had detected rocket launches from the French frigate Auvergne.

The ministry later said the aircraft had been shot down by Syrian anti-aircraft systems in what President Vladimir Putin said was the result of tragic and chance circumstances.

“Russian fake news machine getting mad: accusing the French to have shot down a Russian plane (in fact victim of a Syrian « friend(ly) » fire),” France’s ambassador to Washington, Gerard Araud tweeted, in English.

French army spokesman Patrik Steiger denied that France had been involved in the incident or fired any missiles but several hours later Russian media continued to ask the question.

Quoting a military expert, Tass news agency said Paris was partly at fault after launching cruise missiles from the Auvergne.

France’s presidency, Foreign Ministry and Defence Ministry had yet to respond officially to the Russian assertions.

(Reporting by John Irish; Editing by Leigh Thomas)

Majority of Americans think social media platforms censor political views: Pew survey

FILE PHOTO: A young couple look at their phone as they sit on a hillside after sun set in El Paso, Texas, U.S., June 20, 2018. REUTERS/Mike Blake

By Angela Moon

NEW YORK (Reuters) – About seven out of ten Americans think social media platforms intentionally censor political viewpoints, the Pew Research Center found in a study released on Thursday.

The study comes amid an ongoing debate over the power of digital technology companies and the way they do business. Social media companies in particular, including Facebook Inc and Alphabet Inc’s Google, have recently come under scrutiny for failing to promptly tackle the problem of fake news as more Americans consume news on their platforms.

In the study of 4,594 U.S. adults, conducted between May 29 and June 11, roughly 72 percent of the respondents believed that social media platforms actively censored political views those companies found objectionable.

The perception that technology companies were politically biased and suppressed political speech was especially widespread among Republicans, the study showed.

About 85 percent of Republicans and Republican-leaning independents in the survey thought it was likely for social media sites to intentionally censor political viewpoints, with 54 percent saying it was “very” likely.

Sixty-four percent of Republicans also thought major technology companies as a whole supported the views of liberals over conservatives.

A majority of the respondents, or 51 percent, said technology companies should be regulated more than they are now, while only 9 percent said they should be regulated less.

(Reporting by Angela Moon; Editing by Bernadette Baum)

When a text can trigger a lynching: WhatsApp struggles with incendiary messages in India

Satish Bhaykre, 21, who was beaten by a mob due to a fake WhatsApp text, poses inside his house on the outskirts of Nagpur, India, June 23, 2018. Picture taken June 23, 2018. REUTERS/Stringer

By Sankalp Phartiyal, Subrat Patnaik and David Ingram

MUMBAI (Reuters) – A WhatsApp text circulating in some districts of India’s central Madhya Pradesh state helped to inflame a mob of 50-60 villagers into savagely beating up two innocent men last week on suspicion that they were going to murder people and sell their body parts.

The essence of the message, written in Hindi, was that 500 people disguised as beggars were roaming the area so that they could kill people to harvest their organs. The message also urged recipients to forward it to friends and family. Police say the message was fake.

Police officers who joined several local WhatsApp groups, found three men circulating the message and they were arrested, said Jayadevan A, the police chief for Balaghat district, where the incident occurred.

This happened just weeks after a WhatsApp text warning of 400 child traffickers arriving in the southern Indian technology hub of Bengaluru led a frenzied mob to lynch a 26-year-old man, a migrant construction worker from another Indian state, on suspicions that he was a kidnapper. He was attacked while he was just walking on the road.

So far this year, false messages about child abductors on Facebook Inc <FB.O>-owned WhatsApp have helped to trigger mass beatings of more than a dozen people in India – at least three of whom have died. In addition, fake messages about child snatchers on Facebook, as well as some texts on WhatsApp, also led to the lynching of two men in eastern India earlier this month.

WHATSAPP’S BIGGEST MARKET

With more than 200 million users in India, WhatsApp’s biggest market in the world, false news and videos circulating on the messaging app have become a new headache for social media giant Facebook, already grappling with a privacy scandal.

In India, a country with over a billion phone subscribers with access to cheap mobile data, false news messages and videos can instantly go viral, creating mass hysteria and stirring up communal tensions.

Those tensions can be high between the Majority Hindu community and the minority Muslim population but also within the rigid Hindu caste hierarchy where the so-called Dalits at the bottom of the pyramid have faced attacks for trying to improve their position in society.

In 2017, at least 111 people were killed and 2,384 injured in 822 communal incidents in the country, according to the federal home affairs ministry. It is unclear whether any of these incidents were triggered by fake news messages.

WhatsApp said it is aware of the incidents in India through media coverage.

“Sadly some people also use WhatsApp to spread harmful misinformation,” WhatsApp said in a statement. “We’re stepping up our education efforts so that people know about our safety features and how to spot fake news and hoaxes.”

Group texts, where fake news spreads most easily, are still a minority: 90 percent of messages are between two people, and the average group size is six people, according to the messaging platform.

WhatsApp also said it is considering changes to the service. For example, there is now a public beta test that is labeling any forwarded message.

The company is not planning any changes to its encryption, which ensures messages are not read by anyone except the sender and the recipient.

Facebook did not respond to a request for comment.

Two senior Indian government officials told Reuters that New Delhi had engaged with WhatsApp on the issue but they are not allowed to discuss the matter publicly. WhatsApp declined to comment on possible contact with Indian government officials.

Indian ministries of IT, home affairs and information and broadcasting did not respond to requests for comment.

PRIVACY CONCERNS

A deluge of hoax news incidents, several with fatal consequences, may bolster the Indian government’s attempts to get social networks to share more user data so that police can track down those spreading rumors. That concerns privacy advocates who fear the authorities will use such access against activists and political opponents, and not just against those spreading malicious information.

“Government restrictions on dissemination of false news are too often an attempt to shroud government intentions of restricting freedom of expression and criticism,” according to David Kaye, United Nations Special Rapporteur on the Right to Freedom of Opinion and Expression.

India’s Ministry of Information and Broadcasting has also recently floated a tender for a firm to scrutinize social media posts of Indian users and identify fake news.

The Indian authorities have been signaling they will take an increasingly harsh line with foreign companies who are providing Internet services in India.

India’s central bank in April issued a directive compelling all payments firms operating in the country to store payments data locally within six months for “unfettered supervisory access”. Separately, Prime Minister Narendra Modi’s government is working on a data protection law that could force all foreign tech firms to store key Indian user data locally.

“There is a distinct link between fake news and laws being proposed undermining privacy,” said Apar Gupta, a co-founder of advocacy Internet Freedom Foundation.

Meanwhile, the inflammatory hoax news messages keep coming.

One floating in Bengaluru last month warned parents to take “extra measures towards the safety” of children during the Muslim holy month of Ramadan as they remain busy with prayers and shopping.

More than 500 kidnappers have entered the southern state of Karnataka from western Rajasthan state and the cities of Chennai and Hyderabad, the message said.

WhatsApp messages on organ thieves or child abductions are just the tip of the iceberg though – fake reports can range from incorrect medical advice to news about top jobs.

A recent message circulating in India’s northeast starts by saying the deadly brain-damaging Nipah virus has arrived in Shillong city and advises parents to keep children away from lychees, a popular summer fruit. No confirmed cases of Nipah have been found yet outside of southern Kerala state.

(Reporting by Sankalp Phartiyal, Subrat Patnaik and David Ingram; additional reporting by Nidhi Verma in New Delhi, Derek Francis and Sangameswaran S in Bengaluru; Edited by Martin Howell)

CEO Zuckerberg says Facebook could have done more to prevent misuse

FILE PHOTO: Facebook CEO Mark Zuckerberg speaks on stage during the Facebook F8 conference in San Francisco, California, U.S., April 12, 2016. REUTERS/Stephen Lam/File Photo

By Dustin Volz and David Shepardson

WASHINGTON (Reuters) – Facebook Inc Chief Executive Mark Zuckerberg told Congress on Monday that the social media network should have done more to prevent itself and its members’ data being misused and offered a broad apology to lawmakers.

His conciliatory tone precedes two days of Congressional hearings where Zuckerberg is set to answer questions about Facebook user data being improperly appropriated by a political consultancy and the role the network played in the U.S. 2016 election.

“We didn’t take a broad enough view of our responsibility, and that was a big mistake,” he said in remarks released by the U.S. House Energy and Commerce Committee on Monday. “It was my mistake, and I’m sorry. I started Facebook, I run it, and I’m responsible for what happens here.”

Zuckerberg, surrounded by tight security and wearing a dark suit and a purple tie rather than his trademark hoodie, was meeting with lawmakers on Capitol Hill on Monday ahead of his scheduled appearance before two Congressional committees on Tuesday and Wednesday.

Zuckerberg did not respond to questions as he entered and left a meeting with Senator Bill Nelson, the top Democrat on the Senate Commerce Committee. He is expected to meet Senator John Thune, the Commerce Committee’s Republican chairman, later in the day, among others.

Top of the agenda in the forthcoming hearings will be Facebook’s admission that the personal information of up to 87 million users, mostly in the United States, may have been improperly shared with political consultancy Cambridge Analytica.

But lawmakers are also expected to press him on a range of issues, including the 2016 election.

“It’s clear now that we didn’t do enough to prevent these tools from being used for harm…” his testimony continued. “That goes for fake news, foreign interference in elections, and hate speech, as well as developers and data privacy.”

Facebook, which has 2.1 billion monthly active users worldwide, said on Sunday it plans to begin on Monday telling users whose data may have been shared with Cambridge Analytica. The company’s data practices are under investigation by the U.S. Federal Trade Commission.

London-based Cambridge Analytica, which counts U.S. President Donald Trump’s 2016 campaign among its past clients, has disputed Facebook’s estimate of the number of affected users.

Zuckerberg also said that Facebook’s major investments in security “will significantly impact our profitability going forward.” Facebook shares were up 2 percent in midday trading.

ONLINE INFORMATION WARFARE

Facebook has about 15,000 people working on security and content review, rising to more than 20,000 by the end of 2018, Zuckerberg’s testimony said. “Protecting our community is more important than maximizing our profits,” he said.

As with other Silicon Valley companies, Facebook has been resistant to new laws governing its business, but on Friday it backed proposed legislation requiring social media sites to disclose the identities of buyers of online political campaign ads and introduced a new verification process for people buying “issue” ads, which do not endorse any candidate but have been used to exploit divisive subjects such as gun laws or police shootings.

The steps are designed to deter online information warfare and election meddling that U.S. authorities have accused Russia of pursuing, Zuckerberg said on Friday. Moscow has denied the allegations.

Zuckerberg’s testimony said the company was “too slow to spot and respond to Russian interference, and we’re working hard to get better.”

He vowed to make improvements, adding it would take time, but said he was “committed to getting it right.”

A Facebook official confirmed that the company had hired a team from the law firm WilmerHale and outside consultants to help prepare Zuckerberg for his testimony and how lawmakers may question him.

(Reporting by David Shepardson and Dustin Volz; Editing by Bill Rigby)

India drops plan to punish journalists for “fake news” following outcry

FILE PHOTO: Television journalists report from the premises of India's Parliament in New Delhi, India, February 13, 2014. REUTERS/Adnan Abidi/File Photo

By Manoj Kumar

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi on Tuesday ordered the withdrawal of rules punishing journalists held responsible for distributing “fake news”, giving no reason for the change, less than 24 hours after the original announcement.

The move followed an outcry by journalists and opposition politicians that the rules represented an attack on the freedom of the press and an effort by Modi’s government to rein in free speech ahead of a general election due by next year.

Late on Monday, the Information and Broadcasting Ministry had said the government would cancel its accreditation of journalists who peddled “fake news”.

After Modi’s intervention, the ministry announced the withdrawal in a one-line statement.

Journalists said they welcomed the withdrawal but could not rule out the possibility that it was a “trial balloon” to test the waters for putting more restrictions on the press.

“A government fiat restraining the fourth pillar of our democracy is not the solution,” a statement issued by the Press Club said.

Co-opted by U.S. President Donald Trump, the term “fake news” has quickly become part of the standard repertoire of leaders in authoritarian countries to describe media reports and organisations critical of them.

Welcoming the change of heart, media groups in India nevertheless cautioned the government against changing its mind.

“The government has no mandate to control the press,” Gautam Lahiri, president of the Press Club of India, told journalists.

The events in India followed Malaysia’s approval this week of a law carrying jail terms of up to six years for spreading “fake news”.

Other countries in Southeast Asia, including Singapore and the Philippines, are considering how to tackle “fake news” but human rights activists fear laws against it could be used to stifle free speech.

India slipped three places last year to rank 136 among 180 countries rated in the world press freedom index of the watchdog Reporters Without Borders.

The non-profit body said Hindu nationalists, on the rise since Modi’s Bharatiya Janata Party swept to power in 2014, were “trying to purge all manifestations of anti-national thought”.

(Reporting by Manoj Kumar; Editing by Raju Gopalakrishnan and Nick Macfie)

Malaysia outlaws ‘fake news’; sets jail of up to six years

Commuters walk past an advertisement discouraging the dissemination of fake news at a train station in Kuala Lumpur, Malaysia March 28, 2018. Picture taken March 28, 2018. REUTERS/Stringer

KUALA LUMPUR (Reuters) – Malaysia on Monday approved a law against “fake news” that would allow for prison of up to six years for offenders, shrugging off critics who say it was aimed at curbing dissent and free speech ahead of a general election.

Prime Minister Najib Razak’s government secured a simple majority in parliament to pass the Anti-Fake News 2018 bill, which sets out fines of up to 500,000 ringgit ($123,000) and a maximum six years in jail. The first draft of the bill had proposed jail of up to 10 years.

The government said the law would not impinge on freedom of speech and cases under it would be handled through an independent court process.

“This law aims to protect the public from the spread of fake news, while allowing freedom of speech as provided for under the constitution,” Law Minister Azalina Othman Said told parliament.

The law defines fake news as “news, information, data and reports which is or are wholly or partly false” and includes features, visuals and audio recordings.

It covers digital publications and social media and will apply to offenders who maliciously spread “fake news” inside and outside Malaysia, including foreigners, if Malaysia or a Malaysian citizen were affected.

Co-opted by U.S. President Donald Trump, the term “fake news” has quickly become part of the standard repertoire of leaders in authoritarian countries to describe media reports and organizations critical of them.

The U.N. Special Rapporteur on freedom of opinion and expression, David Kaye, had earlier on Monday urged the government not to rush the legislation through parliament.

“I urge the government to reconsider the bill and open it up to regular and genuine public scrutiny before taking any further steps,” David Kaye said in a Twitter post.

OTHERS CONSIDER LAWS

Other countries in Southeast Asia, including Singapore and the Philippines, are considering how to tackle “fake news” but human rights activists fear that laws against it could be used to stifle free speech.

Malaysia is among the first few countries to introduce a law against it. Germany approved a plan last year to fine social media networks if they fail to remove hateful postings.

Malaysia already has an arsenal of laws, including a colonial-era Sedition Act, that have been used to clamp down on unfavorable news and social media posts.

News reports and social media posts on a multi-billion dollar scandal at state fund 1Malaysia Development Berhad (1MDB) have hounded Prime Minister Najib, who faces arguably his toughest contest in a general election this year that could be called in days.

Najib has denied any wrongdoing in connection with losses at the fund.

A deputy minister was quoted in media last month as saying any news on 1MDB not verified by the government was “fake”.

Lim Kit Siang, a senior opposition lawmaker with the Democratic Action Party, described the bill as a “Save Najib from 1MDB Scandal Bill” which would criminalize news on the affair.

(Reporting by Joseph Sipalan; Writing by Praveen Menon; Editing by Robert Birsel)

Macron wants anti-‘fake news’ law in 2018

French President Emmanuel Macron delivers his New Year wishes to the members of the press corps at the Elysee Palace in Paris, France, January 3, 2018.

PARIS (Reuters) – President Emmanuel Macron said on Wednesday he would overhaul French media legislation this year to fight the “fake news” spread on social media which he said threatened liberal democracies.

Since he was elected last year, Macron has criticized Russian media in particular, openly accusing TV channel RT of sowing disinformation about him via its website and social media during the presidential election.

“If we want to protect liberal democracies, we must have strong legislation,” Macron told a news conference.

Macron said the legislation would concern social media platforms, especially during election periods, and deeply change the role of France’s media watchdog CSA.

(Reporting by Michel Rose; Editing by Ingrid Melander)

Trump suggests challenging TV network licenses over ‘fake news’

The NBC logo is picture atop their office building in San Diego, California September 1, 2015. REUTERS/Mike Blake - GF10000189520

By David Shepardson

WASHINGTON (Reuters) – U.S. President Donald Trump suggested challenging licenses for NBC and other broadcast news networks following reports by NBC News that his secretary of state had called him a “moron” after a discussion of the U.S. nuclear arsenal.

“With all of the Fake News coming out of NBC and the Networks, at what point is it appropriate to challenge their License? Bad for country!” Trump, a Republican, wrote in a post on Twitter on Wednesday.

Trump and his supporters have repeatedly used the term “fake news” to cast doubt on media reports critical of his administration, often without providing any evidence to support their case that the reports were untrue.

Trump kept up his criticism of the media in an appearance with Canadian Prime Minister Justin Trudeau, saying: “It is frankly disgusting the press is able to write whatever it wants to write.”

In a tweet late on Wednesday, Trump said: “Network news has become so partisan, distorted and fake that licenses must be challenged and, if appropriate, revoked. Not fair to public!”

Any move to challenge media companies’ licenses, however, would likely face significant hurdles.

The Federal Communications Commission, an independent federal agency, does not license broadcast networks, but issues them to individual broadcast stations that are renewed on a staggered basis for eight-year periods.

Comcast Corp, which owns NBC Universal, also owns 11 broadcast stations, including outlets in New York, Washington, Los Angeles, San Francisco, Boston, Dallas and Chicago.

A Comcast spokeswoman referred questions to NBC, which did not immediately respond.

ABC, owned by Walt Disney Co, declined to comment.

Shares in media companies fell, potentially reflecting concerns the war of words could worsen. Comcast was down 0.8 percent, while Disney shed 1.4 percent. CBS Corp fell 1.2 percent and Twenty-First Century Fox slid 2.8 percent.

Recon Analytics analyst Roger Entner called the market response a “short-term irrational knee-jerk reaction” and said Trump faced essentially insurmountable hurdles to getting licenses pulled.

A spokesman for FCC Chairman Ajit Pai did not immediately comment.

Gordon Smith, the chief executive of the National Association of Broadcasters, defended the media’s free speech rights.

“It is contrary to this fundamental right for any government official to threaten the revocation of an FCC license simply because of a disagreement with the reporting of a journalist,” Smith said in a statement.

ABC, owned by Walt Disney Co, declined to comment.

Numerous Democrats criticized Trump and urged Pai to denounce Trump’s comments.

Senator Ed Markey wrote Pai on Wednesday asking him to “withstand any urges from President Trump to harm the news media and infringe upon the First Amendment,” a reference to the U.S. Constitution’s free speech and press freedom guarantee.

Democratic U.S. Representative Frank Pallone said Trump “seemed to threaten broadcasters’ licenses only because he disagreed with their reporting. This threat alone could intimidate the press and lead to skewed and unfair reporting.”

FCC Commissioner Jessica Rosenworcel responded to Trump by tweeting a link to an FCC fact sheet. “Not how it works,” she said on Twitter.

‘FAIRNESS DOCTRINE’

When reviewing licenses the FCC must determine if a renewal is in the public interest, according to an agency fact sheet on its website.

The FCC said in the fact sheet it expects “station licensees to be aware of the important problems and issues facing their local communities and to foster public understanding by presenting programming that relates to those local issues.”

The agency does not issue similar licenses for cable networks such as CNN and MSNBC, or regulate internet news or other websites.

The FCC has said the First Amendment “expressly prohibits the commission from censoring broadcast matter” and that its role “in overseeing program content is very limited.”

In the early 1970s, then-President Richard Nixon and his top aides discussed using the FCC’s license renewal process as a way of punishing the Washington Post for its coverage of the Watergate burglary that ultimately brought down his presidency.

NBC News has reported on tensions between Trump and Secretary of State Rex Tillerson, and has said Trump sought a dramatic increase in the U.S. nuclear arsenal during a meeting with national security advisers in July. NBC reported Tillerson made his “moron” comment after that meeting.

Trump on Saturday also suggested he should get “equal time” because of what he described as late-night television hosts’ “anti-Trump” material.

The FCC’s equal time rules apply in limited cases to air time for political candidates and not to criticism of elected leaders.

Trump may have been referring to the “Fairness Doctrine” that was designed to ensure broadcasters present opposing viewpoints about public issues. Republican President Ronald Reagan’s administration eliminated it in 1987.

(Writing by Makini Brice and David Shepardson; Additional reporting by Roberta Rampton in Washington and Jessical Toonkel in New York; Editing by Frances Kerry, Paul Simao, Grant McCool)