I think it's a symptom of a broader problem in general, which is that our media institution as a whole has become a collection of private, purely for-profit, companies rather than being viewed as a societal institution that's a check on those in power like it used to be.
It shouldn't be surprising that media outlets lie so much or put tremendous slant on their reporting. Their revenue is directly tied to how many people watch, and the people watching have made it clear that they don't want the objective facts, they want to be told their side is right and want information presented within that ideological framework.
On more than one occasion, "the customers have spoken" and made it clear that "if your echo chamber isn't sufficiently echo'y enough, we'll go find another one"
A prime example of that was on election night, when Fox News told their audience something they didn't want to hear (that their guy had lost), a quarter of a million viewers bailed almost immediately and went to "Newsmax" (who before, was averaging only 50,000 viewers, and suddenly found themselves with an audience of nearly 400,000 almost overnight)
CNN has experienced something similar. While theirs wasn't so much about "lying" per say like the right wing outlets, when they attempted to go more "neutral" with their coverage and announced that plan to the public, their ratings slid to a near 10-year low, and MSNBC (who wears their bias on their sleeve proudly) had a 13% ratings jump.
Unfortunately "the market has spoken" (and in a way that's concerning): "Tell us what we wanna hear, and if you don't, we'll leave and find someone else who will"