The gist of it is that we tend to trust the authority of the media, up until a point where the the media incorrectly or disingenuously reports on something that we are an expert on. This theory disagrees with what you and your parent comment are saying and instead contends that as soon as they switch to another story, we continue to trust their authority on other topics without any kind of diminished reputation.
I feel like I'm going crazy, but I am almost certain this page exists and my google-fu is continually failing me.
I'm amazed that this is actually not an established theory, as I believed it to be. It explains why this doesn't have a wikipedia article, because it's really just the musing of some guy.
Thing is, it's just not going to be acknowledged by large groups of people; for example Wikipedians won't like it because it totally undercuts what what they base verifiability on.