Ok, technically the Fairness Doctrine only applied to broadcast and not cable news. However, repealing it certainly didn't help the situation. We'd be living in a better world today if instead of repealing it, they extended it to cover cable news as well.
Not to mention, Reagan established the precedent of the executive branch working directly with the domestic terrorist group known as the Heritage Foundation
Without Reagan, the fairness doctrine remains in place, and regulations on radio/TV station ownership prevents bad actors from buying up & corporatizing most local stations in the US. He allowed the rise of Faux News and shitbags like Limbaugh
Don't call it a bailout - the money is going to support a political candidate the conservative global cabal supports, if he loses they're not getting squat.