Typically, distorting real information so that world events are couched in terms of irreconcilable controversies is how the MSM gets its job done. Analysis of any "news" article in terms of what dichotomy is being used would show how that article could be shown as slanted when the other two points of analysis are applied.
Dichotomies only survive by being exactly balanced. MSM "news" often has hidden information and mystery to keep their readers glued to that information channel for "latest developments". Any Google/Yahoo search would usually reveal the rest of the data and any background to make it far less suspenseful and dramatic.
But yellow journalism (which has never really disappeared despite all attempts to "educate" it out of the system by Journalism "schools") only really would disappear where the reporting becomes truly transparent. Transparancy is only possible now in these Internet ages, and only to the degree where individual governments enable personal communication and information rights (similar, but not to be confused with the "public's right to know" - which is the MSM distortion of these basic rights).
We have many generations of increasingly transparent reporting before the news media becomes trustworthy again. It will mean that sources have to be easily cross-referenced by anyone and everyone. When you see "high government sources" or "reports from local officials" you can see really as RUMOR-MONGERING. Witness the fantastic body count in New Orleans with phantom rapes as reported by local officials and on-hand reporters who didn't investigate or stand by their claims. (These then resulted in slow aid to the people who needed it, per FEMA's Brown.)
Top News Article | Reuters.com:
"With high oil prices affecting the U.S. economy and dragging on President George W. Bush's popularity, Democrats have charged he has largely ignored Saudi Arabia's rights record for fear of causing any backlash from the oil supplier."
Analysis: Polls (only really influenced by MSM and couched in terms to generate data which supports the MSM agenda) and unnamed "Democrats" may or may not have said something alarming about something the average person can't change or effect easily. The MSM wants you to become afraid and take it out on the current Administration - or just become apathetic so they can generate another poll from you and so get another story.