It is from 2017 but still enlightening.
We’re living in a cyberpunk world where the “news” isn’t the news, it’s commercial advertisements for corporations and information ops paid for by political parties put into a form resembling that of what we used to call “news,” bought and paid for by deep-pocketed interested parties.
“The News Media” is now just a delivery medium for these paid commercial advertisements and information ops slightly rewritten to resemble dispassionately-gathered news.
The Trump-Russia collusion story seems to have had its genesis in opposition research by Fusion GPS on behalf of one of Trump’s Republican opponents. Fusion GPS was founded by well-respected WSJ reporters who saw the writing on the wall for print media and decided to git while the gittin’ was good. What does Fusion GPS do? It generates propaganda on behalf of politicians, nations, and corporations. That propaganda is then fed to the legacy media who lack the resources to do investigative journalism of their own. Per Smith, this is simply how news is created today. He describes it as the ongoing transformation of foundering, profitless news organizations into dueling proxies for partisan comms operatives.
According to Smith, it isn’t ideological, but business. Legacy news organizations simply cannot afford investigative reporting, while political parties, companies, and nations can.