Is Journalism Dead?

I have turned into a New York Times junkie. My daily devotional includes reading New York Times.com multiple times a day. Recently I was told that it's a liberal newspaper. My question is how can you tell if a media source is slanted left or right? Nearly all hardcore republicans that I know call Fox news a liberal news source and most democrats seem to think that it's a crazy fundamentalist right news source. Is journalism, in the truest sense of the word, dead?