In the school's Institute of Politics poll of over 3,000 18-29-year-olds, a tiny 12 percent said they believe the do the right thing. A whopping 88 percent said "sometimes" or "never." Just 2 percent said they trusted the media to do the right thing "all of the time," and 39 percent said "never."

The poll is the latest nail in the media's coffin, a downward spiral that has resulted in fewer younger Americans reading traditional media and especially traditional platforms such as newspapers and magazines.

And for the industry, it could be even worse, coming in behind perennial last place finisher Congress, Wall Street and the federal government.