It might, if it wasn't actually a problem in all forms of journalism. The bleeding lede wins, and most of the people who come across an incorrect story won't even hear about the correction.
Indeed. Ever notice how when you read something in the news on a subject you are very familiar with the piece is often misleading and filled with inaccuracies? Ever wonder how that works out for every other news story?
The one bright point is with that terrible, fast-updating internet journalism, people can at least try to get out that a story is plain wrong within a few hours, as opposed to days, weeks, or months later (when few people care much about the story).
Nevermind that, at least one study showed that if someone with view X is presented with "evidence" that it's indeed true, and then later presented with a full debunking of it, view X will be reinforced.