It's ironic because the whole reason that broadcast news exists is that the FCC mandated that broadcasters air X hours per day of news so that the broadcast spectrum (which is a limited resource) is, at least partially, being used to serve the public interest.

The problem is that a solid definition of what is "news", let alone "good news", is practically non-existent in our country's laws and regulations. So measuring whether something "serves the public interest" is totally impossible.

In my opinion, TV news has become just another form of advertising. Like, "Hey, come hear our breaking story about terrorism in your neighborhood! But don't change that channel when you realize you're watching sensationalized crap because Survivor is on next!"