Before the media stepped in, the Confederate flag was seen as a true symbol of the south, with examples of Lynerd Skynerd and Hank Williams Jr. Also the media has made Christians and Southerners look like idiots, yet making gays look like heroes, and premarital sex not just normal, but encouraged. Just look at Southern California.
I don't believe that our morals are deteriorating or getting worse, they have just been re evaluated. Having premarital sex isn't much of a big deal anymore, because it never really was. LGBT people are being treated with more respect now and some people somehow see giving them rights that everyone else has as the decaying of moral fiber, when it reality, it is immoral to have denied them those rights to begin with. The media just reflects societies changing values.
No, society's morals are not deteriorating thanks to the media. Throughout history people have complained that the morals of their society were deteriorating and longing for the good old days. In reality, society's core morals are pretty much the same. The media produces entertainment that people want to see. In reality television for example, terrible people are often the spotlight. People do not want to emulate these terrible people, rather they want to laugh at them.