With millions of events happening each and every day the simple act of choice is incredibly meaningful.
Your own belief in the objectivity of modern newsrooms proves my point.
Clearly both Al-Jazeera and Fox News do fact checking... yet one would be left with a very different view of the world depending on who did the reporting.
If anything it is the one place where getting the objectivity wrong has no consequences. In a typical company if you are getting the truth about something wrong (e.g. what people want, what people are willing to pay, where the market will move to) the lack of profit margins will refute the correctness.
In a newsroom however objective truth is a hygiene issue like a cook washing his hands. They should. But if they don't it has very few consequences.
Unlikely. One of us has spent a large chunk of their professional career working in and around newsrooms.