I wonder what would happen if the American People filed a class action lawsuit against the Washington Post, NY Times and the Network News stations accusing them of violating the trust of the American people.
I would argue that the news divisions are committing fraud.
You'd be laughed out of Court for being dumb enough to have that much trust in something you hadn't verified, plus, you have no direct loss.
The legal lines for reporting are simple: defamation, classified information, and state secret are legally risky. All the rest is based on manipulation, and deception. Good con-men are believable, their marks often like them, in addition to trusting them.
The entity that created the expectation of "objectivity" and "trustworthy" as applied to the media, is the media. It's a con, with a scope of coverage accelerating since inception of radio and television.
Pravda and Izvestia in the US isn't a joke - it's objective reality. The media is part of the system. The system HAS to generate an appearance of fight and conflict, otherwise the people wise up to the fact they are being had.