Does that mean it somehow balances in the middle? Nah.
A good essay on media bias, from Power Line. Note that BOTH sides are equal, and that the "liberal media" also pulls its punches on conservative targets - see Iraq WMD info.
One of the problems mentioned in the article is the fact that people get an opinion and then seek out information that only agrees with that opinion. Facts to the contrary are dismissed for various reasons, although the word "bias" is most often used. Now, that may be fair in some areas, but a blanket denunciation of all facts that crack your ideology mirror is just stupid.
Not that too many people seem to mind being stupid nowadays - I just wish so many of them weren't in charge.