Facebook (FB) doesn’t want to call itself a media company. That’s despite the fact that most of the company’s major initiatives in the past two years are around digital media—live video, fast-loading articles from media outlets, and a curated news feed.

COO Sheryl Sandberg was asked on Tuesday at the WSJD Live conference, “Is Facebook acknowledging that it is a media company, and not just a technology platform?”

Surprise, surprise: it is not. Sandberg gave this non-answer: “Facebook’s a platform for all ideas and it’s really core to our mission that people can share what they care about on Facebook. And that includes everything from ‘it’s my friend’s birthday’ to ‘here I am at this conference with my friend Chris’ to things that matter to them in the news.”

It’s classic misdirection from Facebook executives about what Facebook is. But make no mistake: though they may not want to say it, Facebook is absolutely a media company. It is also a technology platform; these descriptors are not mutually exclusive.

Of course, the very term “media company” is dirty these days, when the media industry is struggling; no one wants to be a shareholder in a media company. But a “technology platform,” now that’s appealing.

Chris Cox, Facebook’s chief product officer, reiterated at the WSJ event the prediction, from a recent Ericsson Mobility Report, that 70% of all mobile web traffic will be to videos by 2021. Facebook has been preparing for this shift with a slew of news bells-and-whistles that make it easier for news outlets, brands, independent creators, and celebrities to create live video. Call it video, or content, or whatever you want—it is digital media.

Many, many Americans get their news from Facebook now. According to a report this year from the Pew Research Center, nearly 65% of US adults get their news from social media. Within that group, 66% of Facebook users get news from the site, and 59% of Twitter users.

Facebook has already been very publicly grappling with its identity as a news provider. In 2014, it quietly hired an editorial team of about a dozen people to oversee and select the stories that appear in Trending Topics. That a small cadre held so much power over what you see in your news feed was already controversial (with allegations of instructions to editors to favor certain news providers over others), but in August, Facebook fired the whole team. Almost immediately, fake news stories appeared in the feed. So: who should control the news that appears on Facebook, and how can Facebook ensure political neutrality, and how can it prevent fake or dangerous content from appearing?