As with many other industries, the broadcasting industry practices a form of self-regulation in addition to following the regulations imposed by the government. Self-regulation is attractive for several reasons. First, an industry that regulates itself in certain areas can avoid potentially harsher regulations by the government because the government will often refrain from entering the realm that is already being adequately controlled by the industry itself. Second, self-regulation can expedite the development of standards and practices that can be voluntarily accepted by the industry. Third, and perhaps most valuable, industries that practice self-regulation can gain more public favor than do industries that only rely on government regulation. Therefore, self-regulation can be a good image builder as well as good business practice. This is why the broadcasting industry created the now-defunct National Association of Broadcasters Codes of Practices in the early 1900s and continues to...