Earlier quoted context omitted.
The big media companies have almost nothing to worry about when it comes to the legality of the content they sell. It's the individual user or small dissident group that would be harmed by repressive censorship rules. Those same interests would fair no better under corporate-controlled internet, because their views would be blocked or crowded out of access by the companies protecting their own interests.
Except when their own interests do not clash with that of those trying to exercise free speech. Which is pretty universally the case. Regulation will now make it harder for those persons who value free speech, we only have "legal speech" left.
In any case, this is a red herring.