We have a free press in the sense that it is not controlled by the state. TV and radio networks and newspapers are corporations or owned by corporations and are in business to make a profit so this will have an effect on the way they report news (and an effect on what BECOMES news).
Reporters have bias of course-they are people after all not robots. Polls show the vast majority are liberal and so most of the news coverage is slanted that way. That is why Fox has been so successful, because they are at least willing to consider the conservative viewpoint and not dismiss it out of hand.
Viewers need to educate themselves regarding media outlets and even individual reporters in order to ascertain their bias. If you know where they are coming from, you can filter out "the bad stuff". For example, you can pick one liberal, one conservative and one moderate reporter and watch how they present a given story. You can then pretty much tell what the truth about the story is. And of course, your "truth" and mine may be very different!