Fox news has only ever existed to give conservatives the sense that they had a voice/representation in the media.
People have no idea just how far back the media has been entirely compromised (if it was ever not). The difference is that public appeal has shifted. What we view as "old and stoic" was professional and trendy - or what was valued by society. Because the communication resources were limited, they could govern what was trendy and what people saw as successful. That has changed, and the media is becoming more obvious as shills as they rush to try and compete with people eating tide pods for viewership.
Say what you will about the foolish antics of kids - but kids eating tide pods gained more legitimate popularity than any news anchor.