WI: Children's television remains regulated from the 80s and on?

I've read that President Reagan was the one who deregulated children's television, which opened the door for half-hour toy commercials (a marketing ploy that still exists to this day.)

What would children's programming be like if it continued to be regulated?
 
Companies would still try to find loopholes. For example, Hasbro was able to get animated GI Joe ads on the air by having them advertise the comic. Other companies might try to copy this and make comic book adaptations of their toy lines, then put shows based on those lines on the air, claiming that the show is actually based on the comic.
 
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