Advertising is the lifeblood of the media, so he who controls the advertising controls the media. Facebook is, like Google, an advertising broker. Therefore, Facebook, like Google, can influence and even decide who gets fed and who doesn't. It can shape the incentives of media companies and thus bring them into greater conformity with the preferences of the broker.
In general, the centralizing of communication and control over communication is dangerous. These are private companies and they are controlled by some of the richest oligarchs in the world. They are unaccountable. Without regulation, they can do as they please. National and otherwise local law is skirted, except when countries fight back, like Poland which placed speech on social media back under the protection of the law. This way, you can explicitly legislate and thus decide politically what sorts of things are protected and which are forbidden and punished according to civilized standards and the rule of law, not because despots like Dorsey or Zuck say so. Want to punish slanderous and dangerous rumor? Make this a legal matter with accountability and transparency.
In general, the centralizing of communication and control over communication is dangerous. These are private companies and they are controlled by some of the richest oligarchs in the world. They are unaccountable. Without regulation, they can do as they please. National and otherwise local law is skirted, except when countries fight back, like Poland which placed speech on social media back under the protection of the law. This way, you can explicitly legislate and thus decide politically what sorts of things are protected and which are forbidden and punished according to civilized standards and the rule of law, not because despots like Dorsey or Zuck say so. Want to punish slanderous and dangerous rumor? Make this a legal matter with accountability and transparency.