" In short, when it comes to the First Amendment, greater issues are at stake beyond the immediate interests of the corporations in question. There must be a compelling state interest to limit freedom of expression.

Why doesn't it make a difference whether the corporate speech is about matters that materially affect its business interests?

It is not the state's place to regulate when and if First Amendment rights apply in certain areas. Rather: "Freedom of discussion, if it would fulfill its historic function in this nation, must embrace all issues about which information is needed or appropriate to enable the members of society to cope with the exigencies of their period.... The inherent worth of the speech in terms of its capacity for informing the public does not depend upon the identity of its source, whether corporation, association, union, or individual." The right to express one's political views was...
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