How important is “public interest” in news and current affairs today?

How important is “public interest” in news and current affairs today? How important should it be? You need to use research (academic and non-academic sources—like this: http://www.abc.net.au/news/2013-05-29/gilliessmith-privatise-media/4719080 to make an argument about the importance of this concept in news and current affairs media today. Your argument will need to define “public interest,” consider how it is typically addressed by media professionals (historically and today), as well as challenges to the concept of the “public interest.” You will need to look at specific examples, such as news articles (print/online), current affairs content (TV, print, online), photojournalism, documentary etc.