What are some key features of self regulation (specifically to do with the press) that make it favorable?
The freedom of the press is a paramount right, it cannot function under an external form of regulation. Why? Well, who would set the regulation? The government. The Press is called the Fourth Estate for a reason. If they are not able, for whatever reason, to report on the actions of the government then they are not able to fulfill their purpose. And what is the primary purpose of the Press? To serve as a check and a balance against the government. You can't have the fox guarding the hen house, it just won't work.
