I many countries, you don't even get that and couldn't start your own news source with your preferred agenda even if you had the resources. Don't buy into the "we might as well live in <insert oppressive censorious dictatorship here>". My wife was born in one, the difference is a factor in my daily life.
How do we improve America so those institutions are worthy of our higher standards of trust?
Western media IMHO isnt really 'an institution', its hundreds of institutions. Me? I read the BBC for general current afairs, The Economist for in depth exploration of issues and topics and a bit of the Guardian here and there although it is a bit left wing for my tastes. Oh and once in a while Fox News just out morbid curiosity about what's going on in that particular alternate dimension of reality. There's plenty of choice out there.
I used to love reading the English edition of Pravda back when I was a student. I really miss the USSR, Putin and co are all the shittyness without any of the Red Star chic.
It seems like it's just the way of things. Start out shiny, and slowly erode to decrepitude, to be pushed aside by the new shiny.