The problem starts when media is allowed to be owned by one or few people.Hits on lot of what I'm saying (NSFW language present):
I remember watching a documentary where a billionaire supported Hulk Hogan and his persuit of justice against news agencies where the vulnerability of news and local news were displayed as they were pretty much dependent on income from ads and such.
I found an article on it, but I wish I could have posted the documentary as it was pretty good as I recall it.
How Hulk Hogan v. Gawker May Change the Face of Journalism - JSTOR Daily
The recent Gawker vs. Hogan spat is the latest in the long history of journalism, free speech, gossip, and the law.
daily.jstor.org
I don't think that there are real objective journalism as that would require the journalist to interview and get the POV of all involved parties (Shattered Glass, C.W. War and other excellent movies on journalism etc. https://pfauth.com/journalism/journalism-movies/ )
That leaves selective reporting and creative reporting and this brings us back to what has been mentioned above.
I don't think censorship is good at all, but to safeguard our freedom of speech it's necessary to have harsher guidelines for journalism because we're sorely in need of re-establishing trust in journalism.