Allowing governments and corporations to be that filter is incredibly dangerous given how much the interests of those institutions and individuals can diverge from yours.
Though admittedly, it might not be much worse than the current system (the interests of news orgs definitely diverge from yours).
Government has certain duties, but the media should absolutely be held to certain standards by the public. We (as in the public) can't just allow media outlets to spout lies completely contrary to the truth. Free speech is protection from government interference. But the public absolutely should be able to seek redress from bad media, including those that facilitate bad actors.
Though admittedly, it might not be much worse than the current system (the interests of news orgs definitely diverge from yours).