Now, ESPN's own ombudsman has put in his two cents. In a lengthy discourse on the show, Don Ohlmeyer concedes the criticism thrown ESPN's was largely justified.

"'The Decision' raises important ethical issues. Values have shifted in the past few decades. What was once black or white is now clearly open to interpretation. Paying to play in a news environment is both dangerous and wrong. ESPN likes to present itself as an unbiased news-and-information service, able to negotiate conflicting relationships with those it covers. But refusing to pay for interviews has been an accepted industry policy for decades. Some organizations do regularly violate it. The National Enquirer, The Star, TMZ and others make no bones about what they do. But that diminishes their reputations in public and professional circles and, rightly, causes consumers to question the validity of their information.

"'The Decision' wasn't a tip from a paid informant exposing a corporate cover-up, nor was it a whistle-blower revealing government wrongdoing. Nothing that idealistic. This was the saga of an athlete offering to unveil a two-word career choice -- "South Beach" -- on national television, and a network blinded by the lure of stunning ratings that thought it could dance around what should be a revered journalistic tenet."

Ohlmeyer said the network should have disclosed more about how the broadcast came about, and what deals it made with James and his advisers.

Ohlmeyer also discloses that, two years ago, the network said it would codify its policies on broadcast journalism. "Two years later, and they're still in the codifying process," Ohlmeyer writes. "Either this is a far more complex exercise than it appears, or ESPN is reluctant to fully embrace formalized editorial and operating standards."

Adds Ohlmeyer: "ESPN can brush off concerns raised about 'The Decision,' but it does so at its own peril. A major component of ESPN's appeal -- a value the network has cultivated for three decades -- is that the audience trusts what it's watching. Viewers want to believe the network is treating them respectfully, openly, fairly and honestly. If not, why should they bother watching?"

In my book, ESPN committed a journalistic mortal sin.