I think you are implying that the media basically chose Obama - over McCain.  Well, I think that would be belittling the democratic process.  The people chose Obama, didn't they?  I know there are people who believe that the media gave Obama preferential treatment vis-a-vis McCain.  There have been insinuations that Obama was asked far fewer tough questions and that he was scrutinized less by the media.  Well - perhaps!!  My own impression is that the media did get carried away by the Obama wave - just as everyone else was.  Ideally, it would have been great if both the candidates were treated equally by the media.

The media does hold great power in swaying public opinion and is vital in furthering the chances of candidates.  In that respect, perhaps the media did pick President (elect) Obama.  Although, it would be fallacious to say that Obama won because of the media.  The media did play a part (perhaps a big part - that is open to conjecture), but Obama won because his magic on the people worked.  He had a certain "thing" about him that appealed to the people.  One can't quite put a finger on what that "thing" is, but it worked and so we have President Obama.

On the question of whether the media is happy for Obama, well I'd think they are happy - just as everyone else is.  But, I think this might just be a short honeymoon between the media and Obama.  It would be fascinating to watch whether the media is just as enamored with Obama as his presidency winds down.