52 CITIZENS UNITED v. FEDERAL ELECTION COMM’N Opinion of the Court they would help citizens “ ‘make informed choices in the political marketplace.’ ” 540 U. S., at 197 (quoting McCon nell I, supra, at 237); see 540 U. S., at 231. Although both provisions were facially upheld, the Court acknowledged that as-applied challenges would be available if a group could show a “ ‘reasonable probability’ ” that disclosure of its contributors’ names “ ‘will subject them to threats, harassment, or reprisals from either Government officials or private parties.’ ” Id., at 198 (quoting Buckley, supra, at 74). For the reasons stated below, we find the statute valid as applied to the ads for the movie and to the movie itself. B Citizens United sought to broadcast one 30-second and two 10-second ads to promote Hillary. Under FEC regula tions, a communication that “[p]roposes a commercial transaction” was not subject to 2 U. S. C. §441b’s restric tions on corporate or union funding of electioneering com munications. 11 CFR §114.15(b)(3)(ii). The regulations, however, do not exempt those communications from the disclaimer and disclosure requirements in BCRA §§201 and 311. See 72 Fed. Reg. 72901 (2007). Citizens United argues that the disclaimer require ments in §311 are unconstitutional as applied to its ads. It contends that the governmental interest in providing information to the electorate does not justify requiring disclaimers for any commercial advertisements, including the ones at issue here. We disagree. The ads fall within BCRA’s definition of an “electioneering communication”: They referred to then-Senator Clinton by name shortly before a primary and contained pejorative references to her candidacy. See 530 F. Supp. 2d, at 276, nn. 2–4. The disclaimers required by §311 “provid[e] the electorate with information,” McConnell, supra, at 196, and “insure that the voters are fully informed” about the person or group