You are absolutely correct but the problem lies in the fact that the MEDIA will ALWAYS use situations such as this to forward the LIBERAL agenda. Google will not be presented as a private business that is using its legal powers of choosing advertisers, but as a champion of the fight AGAINST christianity.
Just look at how the MEDIA has chastised Augusta National for doing WHAT IT HAS THE LEGAL AUTHORITY TO DO!
It is not a question of first ammendment rights but how the MEDIA chooses to present the story!
I don't think we'll see much about this so-called 'story' in the media. Like others have said, ads get rejected everyday from companies all around the world. It would be like running a story about how somebody, somewhere sneezed today. Big deal....