Soft Drink Bottlers' Protection Act of 1979 - Declares that exclusive territorial arrangements made as a part of a licensing agreement for the manufacture, distribution, or sale of a trademarked soft drink product are lawful under the antitrust laws provided: (1) such product is in substantial and effective competition with other products of the same general class; (2) the licensee is in substantial and effective competition with vendors of other products of the same general class; and (3) the licensor retains control over the nature and quality of such product pursuant to the Trademark Act of 1946.