This is a Linkedin answer that I found which represents the current state of the Media monitoring in the U.S.
How to gather media coverage
It seems to be getting harder and harder to gather media coverage these days. I used to pay a lot for Bacons or Burelles and the coverage was pretty good but not very timely. Google searches bring up thousands of hits to search through, but still doesn't catch all of it. Lexis/Nexis only gets a fraction of it and Google News is useless because it is so sparse. I've looked at several online services but most use Lexis/Nexis as a basis. What solutions others are finding useful, especially in the technology space. No vendor sales pitches please. I would really like to hear from end users who have found a great tool or series of tools.
Robin: This is a very good and timely question. There has been a fragmentation of the news monitoring industry, in some regards. There has also been a "refocus" of sorts for the larger monitoring companies. The hard question, for you, becomes, "what do you want to do?" If you need comprehensive press clipping service, then you need to work with a true press clipping service...on-line monitoring will not suffice. If you need to know what truly aired on TV and radio, then you need a real broadcast monitoring service, not a firm that monitors broadcast media websites (much of what is posted never airs and vice-verse). If you need to track the internet, then you're going to want a solution that can target your stories AND filter the results so you get valuable information.
Beyond the news tracking components mentioned above, you'll also need to decide if you have the need or budget for media contact management/releasing and media analysis. The first component will more effectively help you get your story out. The analysis service will let you correlate your results to your effort, plus definitively show the value and impact of your media results.
Our company specializes in providing these solutions. Bacon's (now Cision) and Burrelle's/Luce both have very good services as well. Beyond the companies I've mentioned you have a great number of services that specialize in one or two components mentioned above. If I can assist you, or if you'd like to speak with someone in my office, feel free to call.
Todd Murphy is a good friend, and the big man at Universal Information Services in Omaha, NE