I will give you that much but it is all theater. The same people that own the media have also bought and paid for the elected officials. When you own all of the players you always win. We would have as a nation been better served if these media companies (TV and papers) had never been allowed to merge and be bought by larger international companies.
America has become basically what was portrayed in the move "Network"
Great Scene http://www.youtube.com/watch?v=WINDtlPXmmE
http://www.imdb.com/title/tt0074958/