Assertion (A): Regulation of private ownership of the broadcast system by the state through broadcast licences creates 'a system of soft property'. Reason (R): It is premised on the specificities of corporate liberalism. (A) Both (A) and (R) are true. (B) Both (A) and (R) are true, but (R) is not the correct explanation of (A). (C) (A) is true, but (R) is false. (D) (A) is false, but (R) is true. Correct Ans: (B) Explanation: Governments often regulate broadcast media through licensing systems. These licenses don’t grant absolute ownership but rather conditional access. This creates what scholars call a system of soft property. Unlike traditional property, which offers full control, broadcast licenses offer usage rights tied to public interest and regulatory compliance. The assertion is correct. By licensing broadcast frequencies, the state maintains partial control over private ownership. Media owners cannot use these frequencies freely. Instead, they must follow strict rules to retain their licenses. These rules ensure that the broadcast spectrum—considered a public good—serves society at large. Now, the reason also holds true. This licensing model reflects features of corporate liberalism, a system where the state partners with private enterprise. In this setup, the state doesn't eliminate private media ownership. Rather, it structures it through regulation, balancing corporate interests with public accountability. However, the reason doesn't fully explain the assertion. Corporate liberalism supports the framework but doesn't directly cause the emergence of soft property. Soft property arises from the legal and regulatory constraints on what would otherwise be private control. The licensing system ensures that property rights remain conditional and revocable. Therefore, both statements are true, but the reason doesn’t directly explain the assertion. The licensing system fits into the ideology of corporate liberalism, but its mechanics lie in communication policy and legal design. This nuanced arrangement shows how media systems reflect broader ideological values while still being shaped by concrete legal tools and frameworks.