Option 1 states that the legislation is invalid as it violates the freedom of press. This option is incorrect. The legislation being included in the Ninth Schedule to the Constitution means that it is protected from judicial review and cannot be challenged on the grounds of violating fundamental rights, including the freedom of the press.

Option 2 states that the legislation is valid by virtue of Article 31B. This option is correct. Article 31B of the Constitution of India provides protection to laws included in the Ninth Schedule, rendering them immune from fundamental rights challenges. Therefore, the legislation imposing restrictions on newspapers is considered valid due to its inclusion in the Ninth Schedule.

Option 3 states that the legislation is invalid as it imposes unreasonable restrictions under Article 19(2) of the Constitution. This option is incorrect. As mentioned earlier, the legislation`s inclusion in the Ninth Schedule protects it from being challenged on the grounds of violating fundamental rights, including the right to freedom of speech and expression under Article 19(1)(a).

Option 4 states that the legislation is valid as the press is not a citizen under Article 19 of the Constitution. This option is incorrect. Article 19 of the Constitution guarantees the right to freedom of speech and expression to all citizens, including members of the press.