The internet makes everything seem fuzzy round the edges
If you treat it as a separate medium from print, tv and radio you have to effectively throw your campaign finance laws out the window as they will be circumvented more and more.
If you treat it as the same you have a shitload of re-regulation to contemplate that is probably unenforcable.
And you incur the Wrath Of The Bloggers!
And woe betide the man who can unite LGF and Kos on any subject. (only half sarcastic)