Here's a great piece by Dan Gilmor about what he'd do if he ran a news organization. Excellent stuff. Couldn't agree more.
#3 Transparency would be a core element of our journalism. One example of many: Every print article would have an accompanying box called "Things We Don't Know" -- a list of questions our journalists couldn't answer in their reporting. TV and radio stories would mention the key unknowns. Whatever the medium, the organization's website would include an invitation to the audience to help fill in the holes, which exist in every story.
#6 We would refuse to do stenography and call it journalism. If one faction or party to a dispute is lying, we would say so, with the accompanying evidence. If we learned that a significant number of people in our community believed a lie about an important person or issue, we would make it part of an ongoing mission to help them understand the truth.