Fairness in Political Advertising Act of 2011 - Amends the Communications Act of 1934 to require each licensee for a television broadcasting station to make available free broadcast time in each even-numbered year for political advertising. Provides standards for time allotment, including total time to be allotted, the length of each unit of such free time, the hours of the day and the time of the year in which such free time must be allowed, a limitation on such free time, and the use of such free time. Requires candidates meeting certain minimum qualifying standards to be treated equally for purposes of such allotment.
Provides that nothing in this Act shall restrict a candidate's right to purchase other broadcast time on such station.
Requires a cable operator to make available annually free cable time for political advertising under similar requirements.
Prohibits the renewal of the license of any television broadcast station licensee, or the franchise of any cable operator, that fails to comply with such requirements.
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