Too many channels...too much media hype....Is this required?

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Days of one DD news channel are gone... Days of one NDTV are gone.... There are somany news channels...CNN IBN, Times Now, Aaj Tak, Headlines Today, Star News, Zee News...list goes on. Small incidents like Sanjay Dutt meeting his daughter become a "Breaking News" I think we dont need more than 3 news channels...what do you think?