I think it's actually you who are misinformed, to an extent, as you're painting with a brush so broad as to disregard the value and integrity of journalism entirely.

The news having changed is certainly true. For instance, the abolishment of the Fairness Doctrine in the US in 1987. It "required broadcasters to devote some of their airtime to discussing controversial matters of public interest, and to air contrasting views regarding those matters."

Furthermore, as "the fourth estate," at it's best journalism serves as a check on the power of the state and power - especially corporations. The muckrakers of the early 20th century, like Upton Sinclair, raised public awareness of corporate monopolies and unsafe worker conditions. Journalism was instrumental in fostering the knowledge and will necessary to claw workplace rights and protections from the rising capitalist class.