Oh good grief, this has nothing to do with the first amendment.
There are remedies against anyone who abuses a right and causes harm against another person whether it be imprisonment or civil actions in the cases of libel or slander.
Put you knee back in it's socket and think please.
Current law allows media organizations to be sued if they knowingly publish false information with an intent to cause harm. If this protection is taken away then you will radically chill free speech.