SOPA and PIPA

http://www.pcworld.com/article/248298/sopa_and_pipa_just_the_facts.html

Above is a link that describes the 2 SOPA and PIPA bills being overviewed by Congress. Now, aside from sounding like something you might yell during a greek wedding, is SOPA all that bad, or is it absolutely horrible? The main thing many media companies want to do is to stop copyrighted material from being spread throughout the web. Now here is the downside, I would not have been able to post the above link to this blog if the bills pass because I did not obtain approval from the website itself for using its material. Take a look at almost every part of the internet and there is bound to be some form of copyrighted material. Sites such as Facebook and Twitter would no longer be fun aside from just posting boring words with no "funny picture of the day" or music videos and so on. Sites like Wikipedia would not be as large as they would be taking into consideration editors use information from other websites that they don't necessarily have approval from. So in the fight against online piracy, are bills like SOPA and PIPA really aimed at destroying our freedom of speech, or do they seek a more necessary purpose to protect rights that companies and organizations have outside of the WWW world?