Is big money censoring coverage of certain events

The other day my oldest son and I were talking about an issue that he was finding disturbing...  the seemingly censorship of the events around the Occupy Wall Street event that is taking place in NYC.

I have to admit that I have really not seen anything about it on the news or in the papers and yet in social media by individuals there is some info getting out to the public.  When he mentioned it, I had not heard of it at all, and we pulled up some info online and there was info but only really on side social media sites.  Since then I have been seeing more and more posts about it either on FB (among the posts for how much people don't like the new FB..  lol) or other social sites.  I have become more and more concerned about this due to other issues that I have posted about before with the medias coverage of other events

http://kiss-politics.blogspot.com/2010/12/i-wish-some-people-would-just-grow-up.html

and also on FB...

https://www.facebook.com/permalink.php?story_fbid=129784867068601&id=1442156172

In these cases the media coverage was enormous and for what, a complete quack in my opinion trying to get his name in the papers and on TV for his own personal gain.  There was no sane reason to try and burn Qurans, only in the fact of getting attention.  It did no good, and only fueled the fires of hatred.  If you ask me, that is not the message that I was taught in Sunday School, and it definitely is not the message that I know comes from Jesus Christ, but in this event that was going to take place which didn't happen at that time, but good old Phelps did (and was covered) in order that Terry Jones did not get all of the spotlight, thank goodness.

I think that there is a problem with the way the media is handling events and news worthy issues these days...  are they being paid off, or not is probably the real question, among other things like illegal spying on people through phone hacking and other practices that are or should be illegal.

I do understand the need for papers to have "news" that people will read, and then there is censorship.  I know that in my posts about Terry Jones that I suggested the the media ban coverage of him, to not give him any outlet for his crazy and insane ideas, but isn't that censorship as well?  I guess in someway I fall into the same category, I feel that censorship for things that I feel need to be censored is justified.  Am I just falling victim to the same things as others are in not covering the Occupy Wall Street events, are they not justifying their actions in some way and that is the reason that they are not covering the events.

I did notice however, this morning on a local news station that there was a brief mention that some got arrested in a protest called Occupy Wall Street, they did not talk much about the event, but did mention it.

Tell me your opinions...  do you think that there is reasons to censor certain news events, and if so, why?