"After years of sacrificing qualified reporting staff to the bottom line, and substituting public relations (press releases barely rewritten, press conferences reported verbatim) for costly investigative journalism, the media corporations that, starting in the ’90s, convinced regulators that consolidation was essential to their survival have found themselves with little immunity against the financial crisis."

Boy does that ever qualify as a run-on sentence! But it does hit a lot of the points of what's gone wrong with journalism. I have noticed media-criticism is a popular past time on HN.