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You guys have an excellent point here. Crimes in minority neighborhoods are way under reported. It borders on racism in my book. Also, the media traditionally has a liberal bias which should lead them to report more heavily on minority issues of violence and kidnapping but they don't. They disproportionately report on the white-upper-middle class drama queens.
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I would suspect that viewer apathy is a major cause. Considering that the vast majority of viewers are white (well, at least until 2050), the news reports focus of stories that hit close to home for them. Many whites engage in stereotyping minorities, and they
expect to hear about crime in a black neighborhood. They don't consider that news, just the norm.
I would be careful about labeling the actual reporting as racist, however. Television stations care about one thing: the bottom line. If their largest audience (usually middle-class whites) tune out, they'll take a bit hit in their advertising revenue. I would characterize that as greed, not racism.