I spent a couple years in Europe and found that most local news websites in the US blocked access entirely. My guess was that they all share IT resources / policies of the conglomerate news corp, who decided it would be cheaper to simply ignore traffic from GDRP countries.
I have the same experience. I assumed it was a mix of (as you say) not wanting to deal with EU rules, but also not wanting to deal with licensing concerns (eg "do I have the right to show this media in this country").
Part of why I assumed the latter is that sports, in particular, had a high occurrence of "this content isn't available where you are" blocks.
