No, we don't. What we have is a little darker than a mere propaganda organ, though; what we have is an active espionage organization hiding under the protection of the First Amendment that has designs inimical to the United States and isn't in the least reluctant to admit it. The information they collect is the currency of power.
What concerns me more than bribing public officials with money, favors, and sex, is gathering information that is used with a specific political end in mind under a broad ideology whose intention is the fundamental "transformation" of its host society, by hook or crook and Lord knows both are involved. The influence of the media isn't new, and neither is its use in pursuit of the owners' political ends; what is new is the overarching ideology that is malignantly internationalist and anti-freedom across nearly the entire media spectrum. These have morphed from hard-bitten reporters who know their beat to a protected, privileged class immune from the consequences of the mess they're making. Until, of course, they're not.
I agree with your take on it.