Noah Rothman's got a good handle on this:
[I]f the mission of conservatives in the post-2008 world was to create a lasting mistrust of the media among the general public, they have succeeded wildly. A Gallup poll from last month shows public mistrust of the press has reached a record high 60 percent, in fact.
What’s more, conservatives have won some highly respected members of the press to their side of that argument. Some respected members of the press corps will admit that they did an objectively poor job of covering Obama in 2008, a few will even admit that his 2012 campaign has not been particularly well covered in a critical fashion. If the conservative movement set out to make the case that the media failed the public in 2008, that mission is accomplished.
If the media were on the ballot in November, they would probably suffer a historic defeat. But the media is not going to be subject to a public referendum this fall. What do conservatives think they will accomplish in 2012 by consistently and incessantly submitting evidence which proves the press failed in their jobs in 2008?