Wallace believes that the success of ‘60 Minutes’ created a more profit-driven news media in the United States.
, where Mike worked for 40 years, for the current state of, and distrust in, the news media.said. “If you had a magic wand, you could wave it, what would you change, either presently or historically, about the media to try to restore that trust?”A shocked Colbert jokingly accused Wallace of throwing his father under the bus, but Wallace explained the negative effect that“It used to be in the old days, and I can remember growing up with my father in the ’70s, that news didn’t make money.
Wallace believes that the desire to chase ratings and make money is what needs to change if the news and the public’s faith in it are to be restored. “I think when you look at what goes on everywhere, probably particularly cable, and on the left as well as the right, people are chasing audiences,” Wallace said. “So I think that if there was not — if people just accepted, we’re not trying to make money off this, we’re just trying to perform a public service, I think we’d have better news.”
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