Because it's done such great things for American politics

It is unavoidable. Soon there will be a Fox News North based around the Sun newspaper chain. Goodbye reasonable discourse, nice knowing you.
Let be clear here - this is not going to be a channel dedicated to reasoned, objective journalism from a conservative perspective, this is going to be the television version of the Blogging Tories. The former press flak for the sitting PM will be running the network --- anyone care to place bets on how long it is before Michael Coren has a show? Or whether such august personages as Kathy Shaide are regular commentators?
It isn't as if Canada didn't already have a couple of conservative networks - how about CTV or Global? Hell even the eeeeevil liburl CBC gives regular airtime to Rex Murphy and Kory Teneycke. And this isn't a matter of people being able to pick and choose what channels they get at home -- they are applying for a "must carry" licence. Imagine the screeching that would ensue if the Playboy channel or some other kind of  porn network applied for a "must carry" licence that meant it would be seen in most Canadian homes. And make no mistake, this is going to be ideological porn, and it will have the same kind of effect that all porn has: It will arouse and excite by pandering to base instincts, while at the same time desensitizing viewers to non-mainstream content, pushing them to crave more extreme content to get their jollies.
Five years from now, when you wonder how in the hell the network that is screening "Alberta Uber Alles with Ralph Klein" or "Honky Night in Canada with Ezra Levant" ever got a licence, remember the  "freedom of speech" arguments that are being made now, and shed a tear for those well-meaning bloggers as Canada's Lowest Common Dominatrix Kate McMillan reads out their addresses on the air and urges her hordes of flying monkeys into action.