Quite the opposite. Instead, the floodgates have been opened to anyone, like the Russian government, with free access to powerful media platforms if you have the capital. Prior to that the mass media was in the hands of only a few, all based in the US. Control of the masses has been API'd. Basically, China should have bought more Facebook ads.
In times before, news distribution was subject to editorial process and basic standards of journalism. Not that it wasn't without own issues, but it helped sort out outright lunacy, bigotry and conspiracy theories.
Distribution in 2010s bypasses that and mass media are now secondary to social network rumour mills. The political outcomes worldwide and deterioration of Western democracies are related to this.
