I am inclined to believe that Egypt was either allured with incentives or pushed by Saudi Arabia into this whole deal. Saudi is hiding behind Egypt because of the threat of growing harsh critique about its system. 

Egypt already has opposing press tarnishing every gov. official and the ruling party's press has sections, articles and caricatures dedicated to criticize the gov. Also anti-government local programs, exercising freedom to a limited extent, despite of heavy-handed consequences.

It doesn’t make sense that Egypt would want to shut them all up on satellite channels, while they have been allowed locally. 

I expect media officials to strike or organize sit-in, similar to writers' strike in the US. The Egyptian media is already furious and announced they wont adhere. 

Although Egypt is the host environment for this "parasite" document, but it wont be implemented. Salaam