Really? News coverage on Wikipedia is a lot more reliable than (say) Fox News. Breaking news events in particular get a lot of eyeballs and while you obviously can't take everything as gospel, genuinely wrong info is usually purged pretty quickly.

Most news outlets get their news either from press releases or press agencies. It means you effectively get the same talking points across different outlets.

Fox is designed to promote Republican viewpoints and MSNBC to promote Democrat ones. They present little outside them and are usually telling the same small selection of stories from different angles.