"Information of some public interest that is shared and is subject to a journalistic process of verification, and for which an independent individual or organization is directly accountable. " Center For News Literacy
The bottom line is that reputable news organizations have an editorial process that works to ensure that they are accurate, fair and balanced. The danger with the internet is that it has given a platform to non-mainstream media that don't necessarily go though such a stringent process. In addition, even reputable organizations will sometimes slip and show unfairness or bias. This is why it is so important for readers to understand what their news should be and determine for themselves if what they are reading is accurate, fair and balanced.
What news sources are trustworthy? Which are notoriously biased? Answer these questions and more by looking at this news graphic created by Vanessa Otero. This is a great visualization of of where current news/media outlets fall on the current political spectrum.