This article from the Battle Creek Enquirer (which I've never heard of, but it was linked to by Google News) is excellent, and says it all quite succinctly, IMO:

Free speech, politics and bottom line

Here is my favorite quote from the article:

"It seems ironic to us that while Powell endorses less government regulation of media ownership, he wants more regulation of media content. Why let free enterprise reign unrestricted while at the same time bringing down a hammer on free speech? We fear that such a philosophy will result in more consolidated ownership of media outlets and fewer voices being heard."