In the old days the big three networks ran the news departments as separate but necessary functions for the public good. CNN was the first for television, the mind candy humans can't ignore, to break off news and present it 24/7 as a separate offering and/or product.
Agreed.
It's also been noted that the accessibility of such a plethora of news and news sources has dramatically
reduced our exposure to the total story. People used to be forced to listen to diverse sides of the story by the limitation of sources. And sources had to broaden their appeal to capture as many people as possible.
Now, people can self-filter to only those sources that support their views. And news outlets have to narrow their 'target' audience and hype it to capture the audiences' attention away from competitors. That has the effect of an echo chamber and people only hearing what they want to hear.
All this creates the belief that stories outside that echo chamber are "clearly false" and those inside the echo chamber are "absolutely true".
To add to that confusion, there are truly false stories and propaganda portrayed as news circulated.
Edgar Allen Poe "Believe only half of what you see and nothing of what you hear."