Ted Koppel cares for neither Keith Olbermann nor Bill O'Reilly and sees them as symptoms of the death of "real" news. He blames the profit motive which has led to more sensational news which panders to segment of the population rather provide neutral objective information useful to everyone:
To the degree that broadcast news was a more virtuous operation 40 years ago, it was a function of both fear and innocence. Network executives were afraid that a failure to work in the "public interest, convenience and necessity," as set forth in the Radio Act of 1927, might cause the Federal Communications Commission to suspend or even revoke their licenses. The three major broadcast networks pointed to their news divisions (which operated at a loss or barely broke even) as evidence that they were fulfilling the FCC's mandate. News was, in a manner of speaking, the loss leader that permitted NBC, CBS and ABC to justify the enormous profits made by their entertainment divisions.
On the innocence side of the ledger, meanwhile, it never occurred to the network brass that news programming could be profitable.
Until, that is, CBS News unveiled its "60 Minutes" news magazine in 1968. When, after three years or so, "60 Minutes" turned a profit (something no television news program had previously achieved), a light went on, and the news divisions of all three networks came to be seen as profit centers, with all the expectations that entailed.
Divisive, pandering news sells. Objectivity doesn't.