What do you think about the fifth estate of news reporting?

Traditional news resources are known as the fourth estate of government, and they're supposed to keep the other three (judicial, executive, and legislative) estates in check, BUT my argument is that no news was ever objective. And just because the Colbert Report and Daily Show are funny and entertaining, doesn't mean they are not informative, right? I'm trying to say that I am in favor of having all kinds of "news" and that they all contribute to democracy. Tell me what you think!