Putting all of the other outlets aside, are you now suggesting that government must guarantee equal access to media broadcasting outlets? That the equal time rule must apply to everything, including news stories that don't focus on a particular candidate? Are we now going to advocate for reviving the now-dead fairness doctrine?
Well, consider that much of media is driven by FCC licensing. The FCC has slowly squeezed out the amount of available broadcast spectrum (from 67 channels down to 48) while at the same time grossly expanding the number of stations a company can own. Under must-carry rules, FCC licenses ensure a crucial spot on a cable and satellite lineup, which is the main value in them these days.
These actions have ensured an oligarchy; by making that shared spectrum more scarce, the FCC has driven up the cost of licenses far beyond what most organizations can afford, so that only the behemoths can afford them. Most of the new entries into television are companies that scavenge the few licenses (not even the stations themselves anymore; thanks to digital subchannels, they can now flout station limits even further) that have to be spun off under already loose ownership limits when behemoths like Nexstar and Sinclair (and for all this talk of Sinclair being conservative, they still affiliate their stations with the same ABC, CBS and NBC networks as the rest of them) gobble up as many stations as they can buy.
Harder limits on the quantity of stations a company can own, or better yet broadening the spectrum to allow more stations, would help loosen the grip, lower prices and open up opportunities to establish something new. Thankfully, production costs are actually way down because of the rise of digital TV.