(1) As used in this section the following words shall have the following meanings:—

''Media organization'', any corporation, partnership or trust which owns or controls a television station, including without limitation cable television, a radio station or any other such electronic broadcast media outlet or a newspaper, periodical or any other such print outlet.

''Qualified candidate'', any candidate who qualifies to have his name appear on the ballot at an election, whether primary, general, or special election.

(2) A media organization may make time or space available to a qualified candidate at no cost or at reduced cost for the purpose of presentation of the candidate's own political advertising; provided, however, that:—

1. (a) time of the same duration and the same market value or the same amount of space and the same market value is made available to all other qualified candidates for the same office for the same election; and
2. (b) the media corporation makes disclosure of its conduct under this section in conformance with rules and regulations promulgated by the director of the office of campaign and political finance.