@laureth is right on—the bias in the media isn’t conservative or liberal, it’s sensationalist.
School shootings get people to watch, and that means they see commercials, and it attracts enough eyes to justify breaking in to the regularly scheduled programming. In-depth analysis of important political issues—such as the Congressional hearings about the matter of bonuses in the AIG bailout, and the lack of oversight in the original bailout provisions, going on right now—they don’t attract viewers, and nobody sees them.
(Some of this, I think, is because TV is a poor medium for anything that needs to be pondered. You can’t go back and reread a sentence, and you can’t stop and think about the ramifications of something before continuing. You also can’t absorb it at your own pace, reading the newspaper over breakfast.)
The way to get journalism back into the media is to ignore the sensationalism and go after news. It’s there if you look for it—on NPR, the New York Times, the Wall Street Journal. It’s just not found, for the most part, on TV, and most people can’t be bothered with it.