It goes both ways, the media needs sports et. for their business to succeed. You say we have to do whatever the media says, or else they'll take their ball and go home. How is that going to work out for them? The media's presence in business does not mean anyone has to surrender to them.
Look and any major professional sport and compare the revenue generated from TV to the revenue generated from ticket sales. The difference is staggering. Without extensive media coverage, these tennis players would be competing at the French Open for a $100,000 purse and would be lucky to get another $25,000 in endorsement contracts.