I think the press, as an institution, was at its peak post-Watergate, and pre- ... something. I don't know when exactly the press began to decay; possibly with the rise of 24-hour cable news in the 1990s; maybe the elimination of the Fairness Doctrine in 1987, maybe the Telecommunications Act of 1996. The media landscape was certainly severely decayed by 2003, and has not gotten any better.