I don't think Bush will be hurt or helped much either way by this. However, even if a few people that watch the MSM discover the truth, it will contribute to the inevitable decline of the MSM.
It's already in decline..
demise would be more appropriate.
"I don't think Bush will be hurt or helped much either way by this."
Probably not much, but consider: Kerry's support is very soft, and if this exposure cools the jets of one Kerry voter in a hundred, that's a one percent drop in his vote. If one percent say the hell with it and stay home, or even a few switch to Bush, it could swing a state or two, especially in the close battleground states.
It could also carry over into the Congressional and Senate races via dampened turnout. This kind of development may not change many votes from Kerry to Bush but it has to be demoralizing as all hell for the luke-warm 'crap voter.