113 S. Ct. 1505
<br />(Cite as: 507 U.S. 410, *430, 113 S.Ct. 1505, *'1517)
<br />
<br />Page 13
<br />
<br />conclude that Cincinnati has failed to justify
<br />that policy. The regulation is not a
<br />permissible regulation of commercial speech,
<br />for on this record it is clear that the interests
<br />that Cincinnati has asserted are.unrelated to
<br />any distinction between "commercial
<br />handbills" and "newspapers." Moreover,
<br />because the ban is predicated on the content of
<br />the publications distributed by the subject
<br />newsracks, it is not a valid time, place, or
<br />manner restriction on protected speech. '431
<br />For these reasons, Cincinnati's categorical ban
<br />on the distribution, via newsrack, of
<br />"commercial handbills" cannot be squared
<br />with the dictates of the First Amendment.
<br />
<br />The judgment of the Court of Appeals is
<br />
<br />Affirmed.
<br />
<br />Justice BLACKMUN, concurring.
<br />
<br />I agree that Cincinnati's ban on commercial
<br />newsracks cannot withstand scrutiny under
<br />Central Hudson Gas & Electric Corp. v. Public
<br />Serv. Comm'n of N.Y., 447 U.S. 557, 100 S. Ct.
<br />2343, 65 L.Ed. 2d 341 (1980), and Board of
<br />Trustees of State University of N.Y. v. Fox, 492
<br />U.S. 469, 109 S. Ct. 3028, 106 L. Ed. 2d 388
<br />(1989), and I therefore join the Court's
<br />opinion. I write separately because I continue
<br />to believe that the analysis set forth in Central
<br />Hudson and refined in Fox affords insufficient
<br />protection for truthful, noncoercive
<br />commercial speech concerning lawful
<br />activities. In Central Hudson, I expressed the
<br />view that "intermediate scrutiny is
<br />appropriate for a restraint on commercial
<br />speech designed to protect consumers from
<br />misleading or coercive speech, or a regulation
<br />related to the time, place, or manner of
<br />*'1518 commercial speech," but not for a
<br />regulation that suppresses truthful
<br />commercial speech to serve some other
<br />government purpose. 447 U.S., at 573, 100
<br />S. Ct., at 2355 (opinion concurring in
<br />judgment). The present case demonstrates
<br />that there is no reason to treat truthful
<br />commercial speech as a class that is less
<br />"valuable" than noncommercial speech.
<br />Respondents' publications, which respectively
<br />advertise the availability of residential
<br />
<br />properties and educational opportunities, are
<br />unquestionably "valuable" to those who
<br />choose to read them, and Cincinnati's ban on
<br />commercial newsracks should be subject to the
<br />same scrutiny we would apply to a regulation
<br />burdening noncommercial speech.
<br />
<br />In Virginia State Bd. of Pharmacy v. Virginia
<br />Citizens Consumer Council, Inc., 425 U.S. 748, 96
<br />S. Ct. 1817, 48 L.Ed. 2d 346 (1976), this Court
<br />held that commercial speech "which does 'no
<br />more than propose a commercial transaction'"
<br />is protected by the First Amendment, id., at
<br />762, 96 S. Ct., at 1825, quoting Pittsburgh Press
<br />Co. v. Pittsburgh *432 Comm'n on Human
<br />Relations, 413 U.S. 376, 385, 93 S. Ct. 2553,
<br />2558, 37 L.Ed.2d 669 (1973). In so holding,
<br />the Court focused principally on the First
<br />Amendment interests of the listener. The
<br />Court noted that "the particular consumer's
<br />interest in the free flow of commercial
<br />information ... may be as keen, if not keener
<br />by far, than his interest in the day's most
<br />urgent political debate," 425 U.S., at 763, 96
<br />S.Ct., at 1826, and that "the free flow of
<br />commercial information is indispensable ... to
<br />the proper allocation of resources in a free
<br />enterprise system ... [and] to the formation of
<br />intelligent opinions as to how that system
<br />ought to be regulated or altered," id., at 765,
<br />96 S.Ct., at 1827. See also Bates v. State Bar of
<br />Arizona, 433 U.S. 350, 364, 97 S.Ct. 2691,
<br />2699, 53 L. Ed. 2d 810 (1977).
<br />
<br />The Court recognized, however, that
<br />government may regulate commercial speech
<br />in ways that it may not regulate protected
<br />noncommercial speech. See generally Virginia
<br />State Bd. of Pharmacy, 425 U.S., at 770-772, 96
<br />S. Ct., at 1829-1831. Government may
<br />regulate commercial speech to ensure that it is
<br />not false, deceptive, or misleading, id., at 771-
<br />772, 96 S.Ct., at 1830-1831, and to ensure that
<br />it is not coercive, Ohralik v. Ohio State Bar Assn.,
<br />436 U.S. 447, 457, 98 S. Ct. 1912, 1919, 56
<br />L.Ed.2d 444 (1978). Government also may
<br />prohibit commercial speech proposing
<br />unlawful activities. Pittsburgh Press Co. v.
<br />Pittsburgh Comm'n on Human Relations, 413 U.S.,
<br />at 388, 93 S. Ct., at 2560. See Bates v. State Bar
<br />of Arizona, 433 U.S., at 384, 97 S.Ct., at 2709.
<br />[FN1] To permit government regulation on
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