What is the positive side of the "Fairness" Act?

What is the reasoning behind the "Fairness" Act and how exactly does it make the media fair? Isn't it just a way to shut down conservative talk radio so that 100% of our media outlets will be liberal biased? Doesn't it shut out alternate viewpoints that ought to have equal freedom to exist? Isn't this just a way to shut down free speech???? Isn't it like putting a conservative on the Larry King show so that the conservative view can be ridiculed and made to seem foolish because the organizations and people in charge are liberal biased? Why if Obama is so great would he want to squelch free thought and force people to only accept what they hear instead of thinking through things and considering different ideas?