Is the media racist?

Racist, sexist, classist(if there is such a thing.) Although people seem to have been rather shocked by the recent comment by sir Ian Blair, head of the metropolitan police, I for one am not. It's been clear to me for some time that the media and admittedly newspapers mainly, are only after serving their own agenda. They pick news that will sell papers. Stories that they can mould.
But again this shouldn't surprise anyone as it's the in their interests to have high sales. Although it doesn't surprise me it does worry me. This conflict of interests in the long run doesn't help any one other than the editors. Papers have political alliances they only report news that is of interest to their political views. I don't entirely agree with what Sir Ian Blair said about the Soham murders but I can see where he is coming from. People are brutally murdered or assaulted everyday and don't get even a mention in the papers. The murders of Holly and Jessica were terrible crimes and deserved to get the coverage they did but there are crimes of equal or greater significance going under the publics radar because the media don't think it'll sell papers.
But at the end of it all is that the fault of the media or the public? Is it our fault that we mainly want to hear the latest celebrity gossip rather than what is happening in our world.
It's true the media don't report maybe every thing they should but on the flip side are we all so shallow now we don't want to read about it?