I agree with you on how they can overstate things quite often and move into the blatantly wrong or cringe areas just to get a response. However I also see it as a necessary evil, freedom of the press and their right to express opinions, right or wrong is critical to our freedoms and democracy. If we start to get to touchy on what can and can't be covered and how its covered, well it gets 'covered up'. The main issue is to take the theatrics and attention grabbing for the show it is and read what the real story is from informed sources. Imagine what governments and others would have got away with since ww1 without press freedoms and universal coverage, it plays a big part in letting the masses hold those in power accountable. Although it can also be used for bad, but thats what comes with it.
BTW with the same freedoms we have as much right to criticise the press when they are wrong and put forward alternate ideas, like this site allows. Some articles may be intentionally crossing lines to promote debate on a subject, that is what the author is hoping for. Others might be trying to assist the investigation by getting information to as many as possible for leads, so a big sensational headline can grab more in. So it might not always be only about the cash. There are also journalists out there who do it for morals, ethics and trying to help others, not just for the headlines, the headlines are a tool.