There's a big difference between setting standards for broadcasting, and government defining what is "editorializing" and what is fact in the content of what is reported as news. Bleeping out an inappropriate word isn't censorship. But pressure through regulation to change the content is.
There are some right wing extremists who walk very closely along the border of treason and incitement in their broadcasting, and I'm sure they pay an army of lawyers high premiums to help them get as close to the line as possible without actually being held accountable for their irresponsible rubbish. But eventually, even though they may flash in the pan, and of course find a niche to make themselves fabulously wealthy at someone else's expense, they saturate the market, lose ground and influence.
I get a bit concerned these days, because our education system fails to teach kids critical thinking skills. The public schools provide a politically correct pablum curriculum that is spoon fed and dumbed down, and the students are brain-numbed from electronic entertainment. So idiots like Glenn Beck and Rush Limbaugh have a potential audience. I'd be thrilled if, one day, one of their ilk crosses the line and gets slammed for it. They richly deserve it. But if their freedom of expression is limited by government, then anyone elses can be too.