Upon its introduction up until the dot com era television was the most popular medium. The ability for news and events to be televised and viewed instantly around the world has given our society the ability to connect with the world by the push of a button. Although TV has made information more assessable it has its weak points as well.
Over the years violence on television has become more common and more acceptable. Until the recent push for TV ratings it was difficult for parents to ensure their children were viewing material they deemed appropriate and even so some may not agree with the rating system. I remember as a young child watching "Power Rangers" which was rated "TV-Y7". That meant the youngest viewer watching should be at least seven years old. Kids mimic their heroes and act like they do. I don't think it's in the best interest of any seven year olds parents to allow for the child to take in such brutal shows.
I am sure that within the next ten years television will either become much more liberal, or much more conservative, but not anywhere in between. Less and less people seem to care what is broadcast on cable TV, while the ones who do care seem to have a dying voice. The effect on our society is rather mixed and it will be a few decades before we see any real effects on our youth.