They're seeing like a media company instead of seeing like a govt
To understand the nature of the mistake, you have to rid yourself of a number of self-serving myths perpetuated by the media.
Most of the advertising market they dominate they created.
F&G are mainstreet. News media sites are side streets.
Why would anyone put their billboard on the side street?
In FB's case it's barely 4% .
On the other hand, most news orgs RELY on the traffic that F&G send to their sites: it can account for anywhere between 10&60% of their traffic
This is also why F&G will be happy to walk away from providing news content on their platforms.
They simply don't need it.
And that's exactly what the govt's done, under the influence of the media itself.
And that's how the govt should treat them.
As anti-democratic behemoths
Whereas the govt's approach is to treat as something they aren't.
No wonder we can't have nice things.
But none of that happens until the govt starts to look at the problem like a govt & not as a proxy for the news media.