How well does our [American] media control about what we know?

I can remember when the media reported the news, not like now where they present opinion editorials as news. For a time, they did have information quite well sewn up and reported just what they wished you to know. Many are still doing so, but are losing their edge. Today we have the internet and other sources available and do not have to depend on the nightly anchor to tell us how it is. For a time they did control the flow of information, but people got smart and realized that they were no getting the facts, only half truths and lies. The mainstream media still has not figured out that a large percentage of what was once their viewers/readers have left them for better sources.