No the mainstream media is not dead, far from it. Losing power? Yes. Near death? Yes.
They may be soon irrelevant to mainstream America, but they will always have a grip on certain segments of the population.
They need to be legislated into telling the truth, into being unbiased, fair & balanced if you will. How this can be done while preserving the integrity of the 1st Amndmt is beyond me, but someone will figure it out.
Bring back the equal time regulation!