One of the points we hit in 2301 - when we discuss the media - is the development of the objective, independent press, and how it arose from the ashes of the partisan press (when newspapers were merely appendages of political parties) and the yellow press (which used sensationalism to boost sales). The "objective press" was intended to reorient the media so that it became a source of unbiased information that citizens could use to make rational, solid decisions about current matters and vote accordingly. It assumed - as the founders did - that the press was an essential component of a properly functioning democracy.
But then again, maybe this is just a story we like to tell ourselves.
Ezra Klein reports on a recent study suggesting that the press merely became independent because it helped lure more advertising dollars. This doesn't mean that the change didn't occur, but it sheds light on the factors leading to the change.