Pew Research Center has done some interesting polling on what liberals and conservatives like and dislike about the media.
The right sees the media's best point as reporting the news; the left as "providing a service to the public" ("such as informing people or acting as a watchdog").
The left is fairly evenly divided on what's wrong with the news media: biased, poor news choices or lying. The right is pretty sure the main problem is the news media is biased. I'm guessing biased is a step more moral/competent than lying or misleading.