I believe it is. There are very, very few news sources nowadays that aren't extremely biased (Fox, New York Times, HuffPo), and virtually none in the US that report on anything other than Trump. It's disheartening to see how obsessed the main stream media has become with the Trump administration. Every time he does something even slightly out of place, the media blows up with it, misconstrues his words and actions, and frames him in a bad light no matter what. Why not report about his major policy actions as opposed to trying to discredit his reputation over scoops of ice cream, for example? And what's going on in the rest of the world? It's so hard to find news about foreign affairs, such as the revolution(s) in South America and uprisings in Romania.
In addition, there has been a deterioration of the most fundamental journalistic ethics. Journalism is no longer a service to provide citizens with the basic right to the truth; it is ALL about ratings and advancing the writer's own agendas. Bias can be very subtle- it's not as strict as outright criticizing a political adversary. It also has to do with the presentation of facts and connecting to larger ideas that, perhaps, are not really relevant news.
Is modern journalism deteriorating?
Yes- it is too biased/focuses on irrelevant issues100.00%
No- it is on the right track/appealing to the populace  0.00%