I gave it up some time ago. I do find that I am occasionally ignorant of world national and world events, but I haven't paid much of a price for it. A short internet search usually gives me what I need in short order. When I am in, for example, a restaurant and network news is displayed, it appears to be mostly fluff or talking heads with a limited predetermined agenda.
When I think about it, I must have wasted man-years in front of that screen. I was brainwashed by hundreds of thousands of commercials repeated over and over.
This about sums it up. I think we are in agreement. Except I gave up my TV decades ago. I don't regret it, and hey, if I did, it's a choice that can be undone very easily if I so choose. I've gained countless hours of time for learning, hobbies, relaxing, being with friends, perusing MMM, researching things of interest to me, exercising, making money, reading, etc. I read a book or two every week, depending on how much time I have. I have read many of the classic books, Jack London included. You quote Jack London, and I'd add Don Henley: "Get the widow on the set, we like dirty laundry! Kick 'em when they're up, kick 'em when they're down, kick 'em when they're up, kick 'em all around. We like dirty laundry." The media is in the business of selling news and other programming. It's designed to lure you in and hook you. Much like the food industry spends billions of dollars figuring out that most people like sugar, so they add it to the French Fries!
Yes, I'm usually a bit slower to realize there's been a catastrophe because the news wasn't running in the background in my living room. But, like you, I don't feel I've paid a big price for it. Within moments, literally moments, on my smartphone... I can update myself to whatever degree that I choose to. I generally read it, because the video news coverage seems so truncated and ridiculous that I generally can't get through even one clip. It's noisy. The news tends to prey upon fear and insecurity. Updating myself does not mean that I watch every news clip, read every article, and hear the rehash endlessly looped from every neighbor, friend, fifth cousin and dog groomer that once knew someone. It means I get the basic facts, usually from 2 or more somewhat different sources, and decide if I'd like to know more. I read newspapers regularly. I don't know anyone who would label me as ignorant, but anyone who knows me well knows that I don't watch tv. Are we throwing down the gauntlet? I actually don't generally talk about not having a tv, because my perspective is very different from a person who watches daily but proudly mutes the commercials.
Edited to correct Don Henley, not Glenn Frey