That’s certainly one slant.
I’m not so sure that I’d agree the right and the left used to hold the media in similar regard., especially post-Watergate. However, I do agree that there was a more-concerted conservative effort starting in the late 1970’s to begin pushing an alternate political and social view that focused on things like wealth somehow “trickling down” from the rich to the poor, abortion being the equivalent of murder, and urban areas being more dangerous than rural areas. The obvious counter to that would be to focus on the equally-concerted and, more successful (?) push for bigger government, increased dependence on government social programs, and the denegration of the traditional family structure over that same time period. I do think the legacy news media has moved to take on more left-leaning positions since the late 00’s though. The reaction to Trump exascerbated that issue, almost to an extreme. There seems to be strides taken by a few outlets to move back to at least allowing more conservative voices to be heard lately. I think we’re seeing some of the anger at this from the left (expressed by some on this board) now and would also think this is mostly being done for financial reasons, not changing values. Regardless, their time of importance is almost done. We can’t dismiss half the country as living in an alternate reality no matter how we feel about their views on these matters though, right?