This article seems to think that trust is it's own fungible but inconvertible substance (the media has lost theirs, so someone else needs to give them some), rather than something that derives from an objective reality.
People trust repeated liers all the time. And truth telling institutions are rarely most trusted popular ones.
In order to be effective news source, you need to separate truth and opinion. Reporting stories even if they're uncomfortable for their own customer base goes directly against their business interest (revenue, clickrate, etc.). So echo chambers get louder. Trust is earned by consistently confronting difficult facts.