Cite as: 603 U. S. ____ (2024) 15 Opinion of the Court could not substitute “governmental regulation” for the “crucial process” of editorial choice. Id., at 258. Next up was Pacific Gas & Elec. Co. v. Public Util. Comm’n of Cal., 475 U. S. 1 (1986) (PG&E), which the Court thought to follow naturally from Tornillo. See 475 U. S., at 9–12 (plurality opinion); id., at 21 (Burger, C. J., concurring). A private utility in California regularly put a newsletter in its billing envelopes expressing its views of energy policy. The State directed it to include as well material from a consumer-advocacy group giving a different perspective. The utility objected, and the Court held again that the interest in “offer[ing] the public a greater variety of views” could not justify the regulation. Id., at 12. California was compelling the utility (as Florida had compelled a newspaper) “to carry speech with which it disagreed” and thus to “alter its own message.” Id., at 11, n. 7, 16. In Turner Broadcasting System, Inc. v. FCC, 512 U. S. 622 (1994) (Turner I ), the Court further underscored the constitutional protection given to editorial choice. At issue were federal “must-carry” rules, requiring cable operators to allocate some of their channels to local broadcast stations. The Court had no doubt that the First Amendment was implicated, because the operators were engaging in expressive activity. They were, the Court explained, “exercising editorial discretion over which stations or programs to include in [their] repertoire.” Id., at 636. And the rules “interfere[d]” with that discretion by forcing the operators to carry stations they would not otherwise have chosen. Id., at 643–644. In a later decision, the Court ruled that the regulation survived First Amendment review because it was necessary to prevent the demise of local broadcasting. See Turner Broadcasting System, Inc. v. FCC, 520 U. S. 180, 185, 189–190 (1997) (Turner II ); see infra, at 28, n. 10. But for purposes of today’s cases, the takeaway of Turner is this holding: A private party’s collection of third-party content into a single speech product (the operators’ “repertoire”