I think that free news media are fundamental because they inform people without any constraints placed on them, allowing them to give uncensored news to the masses. If news media are unrestrained and unrestricted, they can deliver information that may be critical or may be in favor of a government, allowing all sides on an issue to be heard, instead of a unilateral progovernment point of view. This allows the media consumers to take informed decisions, based on their own ideals and views, not on the ideals of some faceless bureaucrat.
Just out of curiosity, why is it always assumed that any discussion on free speech means that, were rights restricted, the newspapers would have a primarily pro-government view? If we give complete free speech, wouldn't the majority be anti-government and probably baseless?