How effective is the media?

How effective is our media? Everyday, we see the increasing commercialisation of the Media industry!

Let us take the recent example of the 5 year old who was in a pit which was almost 40 feet deep. All the channels were covering the same event for 50 hours.

What about the other important news? And then you have the "masala" that the news channels add to the main content. Even after devoting so much time to the incident, different channels came up with different models of the hole, that was dug to rescue the kid.

Even newspapers had the news on the first page, but different pictures to reveal the plan behind the rescue operation. LOL!!!
The Media, probably the best industry so far, is moving towards the bad bad world of commercialisation.

Should the quality of news be compromised just for publicity?