PBS is a government funded news source, and it's considered by many to be good quality.
Switching from private to public ownership wouldn't alone fix the problem of media (although it would help) because it would still exist in an economic system based on profit, but it would at least remove that incentive from the industry of media. Another more specific problem is of consolidation, since the 90s media companies have become more concentrated in terms of ownership, and they are major corporations that own them and thus can ultimately determine the overall context of how the papers/shows/websites/etc. are run.
But anyway, the Hunger Games films/books
do criticize the broader role (not just the profit motive) of media as a distraction, but then again I don't think we can divorce the two.