What is lost in all of this noise about how there is a need for Campaign Finance Reform is what has caused a large part of the problem in the first place -- a highly partisan, biased, extremist left wing media (TV news, Major Newspapers, and Major Radio News outlets). The problem of media bias isn't limited to the editorial pages, but also carries over into basic reporting and article bias. Whatever it takes to promote the Bill of Lefts perspective.
Rather than reporting on how many of society's ill are caused by lack of personal responsibility and self reliance, the liberal left media will go out of their way to promote the notion that the "unfairness" of marketplace is the sole cause of poverty. There is little, or no, balance to the news and stories they report or chose to broadcast.
As a result, politicians who are faced with getting a balanced message out to the complexities of contemporary issues must spend millions to get the word out that there are other perspectives than those reported by the major media.
Achieving a constitutional solution for media bias is problematic. It's not like you can mandate the major newspapers that they have to go on an affirmative action program to hire reporting and editorial staffing that matches the political demographics of the populace. It would be a nice and easy solution, assuming one could get it passed and signed into law. However, such a law would also be a conflict with the Freedom of Speech guarantees of the Constitution.
However, what you can't do with mandates, you can do with the right tweaking of the marketplace. For example, one might promote a professional journalistic association to come up with a "balanced reporting seal of approval" for media outlets that have a reasonable political/demographic balance in their reporting and editorial staffing. If Channel 5's news staff has a balance to their staffing, they could proudly display the "Balanced Reporting Seal of Approval".
Folks such as Rush Limbaugh wouldn't be 'balanced' but then, Rush would probably make a big point of how he isn't balanced and how he is willing to openly declare that his show reflects his personal conservative perspective, and how the Dan Rather's of the world are not willing to openly declare their political bias.
Sure, initially average bubba viewers of the 5 oclock news will probably be curious about what is this balanced reporting seal, but eventually, they'd come to recognize that news reporting without balance must be taken with a grain of salt. Where politicians currently have to spend millions to get some political balance on complex issues, the 'balanced' media will discuss and debate these issues without significant expense to lobbyists or politicians.
Special interest lobby's that currently waste millions and millions on political donations are likely to find it more cost effective to redirect their resources to dealing with many of their issues directly. Especially if there were a Taxpayer Directed Budget for dealing with the various social marketplaces.