I can’t see how this comment is substantiated. Personally I’ve always considered large media corporations to be quite untrustworthy. Anecdotally I’ve noticed that other people have been sharing that view more than before (perhaps I’m wrong about that, but that’s the way it looks to me). But let’s say less people trust Fox News or CNN less than they used to, how does that harm society exactly? To me that sounds like people are treating information with increased skepticism, and are likely consulting a more diverse set of sources than they used to. If that’s true then those self-regulating mechanisms of trust and reputation that you mentioned are in fact protecting society from the outcome you described.