Cable TV isn't regulated.
At least, not to the extent of the public airwaves, and not on a national basis.
Unlike the PUBLIC airwaves, cable TV uses private infrastructure. That's why it can trot out unedited slasher flicks, softcore porn, and other programming that 'over the air' broadcasters can't. Another reason is that purchasing cable TV service is a conscious decision made by and paid for by the consumer, and the more objectionable content usually requires the additional purchase of a premium channel. A cable TV provider (or other utility) may sometimes surrender some degree of control in exchange for a municipal government granting it monopoly status or in exchange for municipally-provided infrastructure, but broadcasters have no options except the 'public' airwaves.
I agree that regulation and censorship aren't the same thing. I even agree that the Internet should be subject to some degree of regulation, but not to the extent of public airwaves. I could get along with the same regulations as apply to public speech - no kiddie porn, no shouting 'Fire' in crowded chat rooms. But adult porn, 'hate' speech, ant-governmental discussions, religious fatwas? Have at it, boys and girls.
