I think few would argue that big news outlets are free of bias and sensationalism. The questions is to what degree?
There's a tendency, on the internet, to write off establishment people and groups completely, based on their all-time most egregious mistake (eg: The NYT is reduced to their toadying to Bush over WMD, election polling is meaningless because it failed to predict 2016, etc).
Most of these organizations aren't stellar, but, at this point, the public perception is so paranoid it makes Noam Chomsky sound as credulous as a boy scout.