So, treat them as a mash-up between one of the best known monopolies in US history and an industry known for equal parts educating and confusing people? That's both very forthcoming of him and completely terrifying.
The National Enquirer is a newspaper too, and probably the closer analogy to Facebook in reality than more reputable news organizations.
Treat Facebook like both and apply all the telco and content regulations to them.
One of the key principles in telco regulation is ensuring any-to-any connectivity. It is now established in most jurisdictions that telcos have a monopoly over connecting to their end-customers (i.e. the only was to call a T-mobile customer is for T-mobile to accept the call into their network). Hence regulators not only mandate interconnection, but require it to be done on fair terms and conditions, including a fair wholesale price, which is often set by the regulator.
The National Enquirer is a newspaper too, and probably the closer analogy to Facebook in reality than more reputable news organizations.