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For the entire time I've been alive, we have been a supply-side economics country. Which means that rather than companies creating products based upon the needs of the people and selling them, much or perhaps most of the economy is oriented toward making you want (largely) unnecessary things that companies have created.
The news media serves this economic structure in a few different ways:
It is often the news organizations themselves -- and the people who act as boosters for them either unintentionally or intentionally -- that pretend that you have some personal responsibility to consume every bit of news about every flatulent (be it government, celebrity, or corporate) that opened their mouth today.