It does, theoretically, which is why Bloomberg was just fined 7 million by France. This is what the once feared FCC used to do and needs to start doing again. They could set up an independent regulatory agency--no wait, we have one! So they could use this independent regulatory commission to start fining the press for unsubstantiated reporting. Historically they have not liked to regulate the press as it undercuts Freedom of the Press though. So this is why lawsuits have been filed by Nunes and many others--let the courts settle it--while frustrating, it encroaches the least on the 1st Amendment.