WASHINGTON (Reuters) - The chair of the Federal Communications Commission rejected former U.S. President Donald Trump's suggestion that Walt Disney ( DIS )-owned ABC should lose its broadcast licenses over the network's moderating Sept. 10 presidential debate.

"The First Amendment is a cornerstone of our democracy. The Commission does not revoke licenses for broadcast stations simply because a political candidate disagrees with or dislikes content or coverage," FCC chair Jessica Rosenworcel said on Thursday.

The FCC, an independent federal agency, does not license broadcast networks, but issues them to individual broadcast stations that are renewed on a staggered basis for eight-year periods.