That's not actually a big change; Free media has always been powerful, and it's always been awarded based on the media’s business interests, mostly advertising dollars (except for outlets that are in the game to drive a specific agenda even when that involves sacrificing profit opportunities.)
It's kind of a trap for old media, however. They are losing the only advantage they had, credibility. When that's gone, the bitter clingers will still watch for a while, but they won't find any new viewers/listeners/readers.
The more they covered Trump, the more they danced to the music of check deposits. CBS president Leslie Moonves said: "It may not be good for America, but it’s damn good for CBS.” Or in the words of one Washington-based reporter: "‘Holy shit, Trump’s the best thing that’s ever happened to our business!’"
In short, as the amount of information exploded, the media — with business models built for an environment of information scarcity — engaged in a Faustian Bargain. Naval Ravikant said it best: "The Internet commoditized the distribution of facts. The ‘news’ media responded by pivoting wholesale into opinions and entertainment.
The media can't tame them?!? It's more like they love them and are the reason they continue to exist in the first place.