The current FCC regulation — 47 C.F.R. § 73.1941 — contains four exemptions to the Equal Status law:
1. bona fide newscasts
2. bona fide news interviews
3. bona fide news documentaries (incidental appearances)
4. on‑the‑spot coverage of bona fide news events
Late‑night shows have historically been treated as falling under the “bona fide news interview” exemption, this is what Colbert referred to.
The FCC has recently issued guidance to broadcasters that they should no longer assume late‑night or daytime talk shows qualify for the bona fide news interview exemption, and that stations must be prepared to justify the exemption on a case‑by‑case basis. This increases the likelihood (always a possibility) that appearances by candidates on entertainment talk shows may trigger equal‑time obligations.
The FCC has not issued a new formal rule, but has put stations on notice that the bar for justifying an exception to the Equal Time rule has been raised, which increases compliance risk. And of course it’s Brandon Carr who will ultimately decide whether or not any particular instance is justified.
In the past, the FCC has tended to be liberal with exceptions for late night shows in part, particularly to avoid the appearance of the federal government favoring one type of candidate over another. The current federal government is not constrained by those kinds of concerns.