The Role of Media: "Buying the War"

The movie we watched in class on Wednesday portrayed the controversy of what the role of media is and should be as the "Fourth estate" or "watchdog". We depend on the news to keep us informed with the truth and to keep us informed with news that we don't personally have access to (the war). One role in journalism is to act as a public service by being a watchdog of the government. However, journalists are torn with the role of public service and the role of business, maintaining readership and creating a profit.
In my J204 class, Visual Communications, we talked about the decisions that journalists have to make when given access to powerful images, such as those of civilian casualties. Do we show this to the public? Journalists are given the responsibility to inform the public, yet they are also given the responsibility to respect their readers from offensive images. This is a huge dilemma and a difficult decision to make for many journalists. If printed, controversial images or articles may result in upsetting feedback and loss of readers. Yet, if not printed, it is in a way a form of censorship. It is likely that images won't be printed as newspaper staff don't want to take the risks that go along with running a controversial image. In the movie, "Buying the War", people became upset with anything that seemed unpatriotic, causing newspapers to alter their content to keep readers happy.
When it comes down to it, news is a business. Decisions made by newspapers will likely be made from a business perspective, rather than a public service perspective. Is there really any way that journalists can keep all readers/viewers happy while simultaneously informing the public of the truth?