I disagree with this entirely. You're right in one thing; the media is driven by profits. But, it won't run a black man is a racist story because society doesn't want it, but because of the backlash of a very few who will scream from rooftops.
If Sports Illustrated did a Rocker type article on Barry Bonds, Jesse Jackson and Al Sharpton would be screaming from the top of their lungs how racist SI is. They would call for a boycott of anyone who advertises in SI. The media would give Jackson and Sharpton all the coverage they wanted. It would look like they represent all of America when, in fact, they represent the voice of a very small majority. But, because they the liberal media wants their message out, they will give them plenty of coverage. It's not because that is what society wants, it's because they press is VERY politically correct.
The LAST thing a corporation wants is negative publicity. But, because Jackson and Sharpton are given a place to spew their racism, the corporations will back off from advertising in SI. That is what makes SI not run a story on Bonds' racism like they did with Rocker. Believe me, Si will not run a Rocker type story on Bonds because they don't think it will sell. They are afraid of the backlash and millions of dollars they would lose from scared advertisers. If the advertisers and SI just stood up to Jackson and Sharpton and called them what they are, they would shrink to irrelevency.
Remember when Martha Burk tried to force Agusta to accept women? What did the club say? They stood up and said, you aren't forcing us to do anything we don't want to do. I don't care if we lose advertisers, which they did. There were only a few protesters (at the height of their protest, the number of press there to cover it actually outnumbered Burk's people), yet the press covered it like every one in America was behind her. Yet, what happened? Agusta stood up to her, didn't care what advertisers they lost and came out on top. Heard anything from Burk since? Nope. The Masters is still playing every year, advertisers are there like they always were and Burk had to run off with her tail between her legs.
So, refusing to run a Bonds story has nothing to do with what society wants to hear. It has everything to do with a liberal, politically correct press blowing stories way out of proportion and making a white man look like he is a bigot, racist and sexist.