That seriously is not the point.
Accuracy in media, in my opinion, is just as important as free speech. News agencies should not be "lying" to the public.
Once propaganda is allowed to be passed off as news..then there is a risk that other parts of society begin to "change"..and normally not in a good way.
Take for instance the health care reform debate. obama said it would not raise premiums and everyone could keep their current plans. Fox presented talking head after talking head disputing that. Let's go back in time one year and rate Fox for truthfulness.
If we had some government panel rating news sources at that point, it would have agreed with obama, because if it didn't, the members would have been replaced.