This paper explains that, whereas during the period of Watergate American media and
journalism had high credibility, during
the 1980's and 1990's, this trend withered away. The author points out that big business has become so powerful in America over the past few decades that the media often treats it with kid gloves. The paper contends that, as a result, there has been a transformation of the role of the media from a Fourth Estate watchdog to a politically correct parrot. There has been a great deal of
commercialization in the media, and many of Hollywood's elements are now seen in the media. Table of Contents Introduction The Role of the Media Politics and the Media How Watergate Changed the Role of the Media A New Era of
Journalism The New Role of the Media Elements of Hollywood in the Media The Trend of Investigative Journalism Media Ethics Conclusion