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I blame the 24 hour news cycle and end of the Fairness Doctrine. It has allowed editorializing and "spinning" of news stories as opposed to being factual and objective.
The internet itself is far more to blame than either of the factors you cite. Why? Because it destroyed journalism's traditional revenue model and in so doing murdered local news. Only the biggest legacy news organizations can still make ends meet through a subscription base, so the result is that everyone else is left churning out bullshit clickbait articles in a competition for views.
"Information wants to be free," was the mantra of the early internet, and that's nice as far as it goes, but good journalism is expensive and when we gut the revenue stream of an entire industry, we shouldn't be surprised that what's left kind of sucks.