My impression is that today’s journalism consists of a combination of those who want to do a good and honest job, and those with an agenda - and that often that agenda is largely driven by their desire to be ‘hot-shots’ in the Watergate style.
The wannabe ‘hot-shots’ are like those we deal with everywhere in life - the marginally talented, extremely aggressive, willing to do ‘whatever it takes’ to promote themselves, jerks.
On top of the pile are those who are largely beyond everyday concerns (they have money and security), but are also arrogant/narcissistic, and embrace the premise that they are powerful people who are guiding society and the world via their control of their media outlet. They like the wannabe ‘hot-shots’ more than the nose to the grindstone wannabe ethical journalist crowd, because the wannabe hot-shots give them the sensationalism and agenda-driven stories that allow them to fulfill their grandiose desires to be the ones who guide society and the world.
It all comes down to ego over integrity, which is way too ubiquitous in the world today.