Some people trust the media, some don't. The truth is that the media is not a single entity that gets together and decides what stories should be told. Some media outlets are reliable and some are not. Individuals have to decide for themselves which ones they chose to believe and which they don't
No, Americans will not trust mass media again. The bias and sensationalism of mass media has become blatantly obvious and I think most Americans are sick of it. In this day and age, there are so many alternatives to mass media that it will die out in the next few decades.
Under no circumstances should Americans ever trust the mass media. Look no further than this current election cycle to bear witness to the unfettered bias against Donald Trump, and in favor of Hillary Clinton. It would be one thing if the media was transparent. However, it doesn't even attempt to hide its bias.
Mass media became extremely competitive in recent years. Some changes were good, other changes not so great. One negative change is that many outlets that were once well respected became shills for commercial enterprises like movie studios and large corporations. The remain competitive, all mass media sells out to some extent.