Cable outlets (CNN, MSNBC, FOX) should only barely even be counted as news media. They are all simply mouth pieces for their target audiences. ..More interested in their corporate profits than actual news.
While network news is probably more straight forward with actual news, they have similar problems in trying to chase profits. News was never particularly profitable for the networks, but there was a time when they seemed to understand the importance of reporting it.
Print news, at least respectable print news, has mostly put themselves behind pay walls (once again in the interest of chasing profits). Leaving themselves only available to those who can afford to view the information.
As corporate shills, most all of these sources have spent significant effort making certain we only hear what they want us to hear. And 'sanewashing' problematic topics and candidates.
For the reasons above, as huge vacuum has been left where factual and reliable information should reside. That vacuum is being filled by social media and questionable podcasts, who also tend to cater to whatever their producers want to convey.
That's a simple explanation of what's happened. The problem and any solutions are actually far more complicated. ..practically impossible with so many right-wingers advocating for their rights to lie (their version of freedom of speech).
The world is left with a giant hole where reliable information should exist. And the US is left with millions of willfully uninformed voters, who have neither the time or the inclination to seek out facts.
Just my take.
We'll see how that works out. 'high-IQ revolutionaries' rarely like to work for free.