As till said:
I disagree with there being a bias toward reality. I think the bias is firstly toward whatever makes them the most money, secondly toward false neutrality, i.e., "McCain said the sky is green with polka-dots, while Obama said the sky is blue", and thirdly toward. whatever's the easiest thing for the journalist himself to do. But Till's main point, that both campaigns aren't equivalent and therefore will not be covered in equal light, is completely correct. That's especially true this year; McCain's attacks on the media about Palin seemed to have hurt the media's ego, and they seem to be constantly trying to out-do each other as real journalists for once (thus, the polka-dot analogy isn't as valid this election as it usually is).