My views on this have been evolving of late.
I used to believe, as does El_Kabong above, that to have a neutral and objective press is the most desirable situation. However, I’m starting to move away from that position. There are two reasons.
First, I wonder if there is such a thing as true impartiality. Any news story, of necessity, will be a distillation of available facts; even the most neutral journalist is still forced to choose which items to include and which to leave out. The only way to represent an event with true impartiality and objectivity would be to put a dozen video cameras in strategic locations (assuming you know what these will be in advance), record the event from all perspectives, and then play every single one of the recordings for the public, beginning to end, without edits or commentary. Anything else is a subjective condensation of the event, and thus subject to manipulation, whether deliberate or inadvertent. (One of the best history books I own is titled “A History of <subject>,” rather than “The History of <subject>” or the even more questionable “<Subject>,” which I think is a subtle but interesting acknowledgement of this phenomenon.)
Second, if one promulgates what seems to be a myth of journalistic objectivity, it becomes possible to manipulate the news even more effectively. On one hand, if some people expects unvarnished facts from its media, those readers and viewers will be vulnerable to deception, because they won’t know how to question what they’re told. On the other hand, if that type of manipulation is occurring, and some people recognize some media are untrustworthy and given to mendacity, they may erroneously conclude that all media are deceptive, and thus give up on the whole thing and decide they’d rather just quit paying attention if they know they can’t get reliable information anywhere. In both cases, the population ends up ignorant and out of touch.
So I’m starting to think that it may actually be more useful to have openly partisan media who selectively choose what facts they will represent to the public, and which assertions from the other side they will attack and attempt to refute. In some ways, this is very similar to what we have in Great Debates: Hardly anyone here tries to hide their political leanings, and we end up with what you might call a Cite War: whoever can marshal the most convincing set of studies and expert opinions tends to come out ahead on an issue. A similar journalistic system might feature dueling arguments from different outlets, and in a pseudo-Darwinian sense, the best argument, the one with the best scientific or economic or military or historical foundation should, generally speaking, gain the most popular acceptance. The responsible citizen, then, must listen to and evaluate both points of view, and decide which one is the most plausible.
The problem, of course, is that you may end up polarizing the population, with walled camps who listen only to their preferred preachers and pay zero attention to anything coming from the other side. My response: True, but we already see this today with our current so-called unbiased media, so we might as well be honest about it. And besides, any system will be flawed, and no journalistic paradigm will be perfect — so just speaking for myself I tend to gravitate to whatever situation has the smallest amount of bullshit, or at least the smallest amount of concealed and disguised bullshit (“no-spin zone,” indeed).
My thoughts are still taking shape, though, so the above is somewhat unformed as yet. I’m open to modifying or refining my view, depending on how the debate progresses.