Oh look I'll take the advice of MrC and not go too far with this one, but please understand it can be frustrating for people who work in a profession, who have knowledge and experience, to have that profession criticised in rather black and white terms by those who don't know what they're talking about. Actually, funnily enough, I think there would be many here who would readily understand that.
Your post is to me just an example of someone wearing rose-coloured glasses, who has bought into a problem story and who is ignorant as to what has actually changed in the media.
On the first, I can guarantee you that issues of bias were actually more serious in that earlier time period because they were much more likely to be hidden. Now, they're much more readily debated and highlighted. Sky and The Australian from the Murdoch stable are blatantly biased, but that's known. The ABC has a systemic bias to the left, but, again, that is often subject to discourse.
A problem story is one where someone forms an opinion about a subject and then takes in all information that would support their position, while discounting everything that wouldn't. That is, I doubt you're consuming any media with an objective mind. Your comment above just confirms that. You speak in absolutes with no evidence, just your observations, your belief. You could read a newspaper, cover to cover, thousands of words, and not notice a single mistake, but you're not going to put it down and remark on that. You'll only ever think of it when you spot a mistake. Then you'll blow that mistake out of all proportion.
And then the ignorance of what has changed in the media. For commercial print, radio and TV the market is so different, due largely to the online revolution, Facebook, Google and so forth. What it's meant is that there are fewer people working in the media. Newspapers, for example, have fewer sub-editors. There are more time pressures. Fewer pairs of eyes are seeing a story before it is published. Yet the funny thing is I can remember some howlers that got through back in the day when a story would be checked by at least three separate people. You also have the rise of the spin doctor. Journalists have to contend with armies of people whose job is to subvert the story for their employers' ends. This isn't limited to politics either, far from it. The fact is it is a tougher industry to work in today than 30 years ago. Still, journalists are plying their craft, their trade, their profession and they're doing it with skill, perseverance and genuine passion.
The irony of all this criticism, of course, is that it comes when the media in this country actually broke the story and allowed us to be talking about today's announcement yesterday.