Not related to the article but man that "Fear/Greed Index" at the top. I can't imagine how unhappy individuals must be who consume nothing but legacy news outlets. It's like they sell sadness and they have to keep finding new, over-the-top ways to promote it.
I think you mean US rolling news channels (specifically, Fox, MSNBC/MSNOW, etc)? Because there's plenty of "legacy" news I consume that certainly don't give me that impression (for example, The Economist). I suppose it matters that it's news that I'm paying for, as opposed to being free but ad-supported, and being print vs. TV - so they have different incentives and pressures.