The 'reputable' news(collectively) did this to themselves. They figured out at some point you could get more viewers by confirming their biases one way or another. So much so that ask about anyone, and they'll claim the other side's news sources are a joke.
It's not surprising people are all skeptical, and that other sources of varying reputation have entered the fray.
Even aside from bias, so much of the news entertainment produced by legacy media was slop. They didn’t act to raise media literacy because it would cut into their margins. Who could have possibly been surprised when their lingering prestige dried up and people preferred the slop on YouTube better?
One thing that is clear with a press release, that it's biased to highlight good sides of the company. With media, without deep investigation and knowing the background of certain news media, you are in the dark about bias. So in a sense press release is more reliable.
It's not surprising people are all skeptical, and that other sources of varying reputation have entered the fray.