There are likely very few adults in the Western world who hadn't thought at least once that it would be really nice if a certain TV station or newspaper got sanctioned for the crap it pulled off. We usually think about it and then we remind us that it's the other side of press freedom.
Governments have the same temptation, but unlike us they can actually do something against the press.
The Hungarian government has apparently not restrained itself and set up a press oversight system staffed with government party officials.
The European governments are seeing the need for economic and fiscal cooperation and are unlikely to confront the Hungarian government seriously about this violation of otherwise well-established European ideals any time soon..