I am really torn when it comes to this movie. On the one hand, it keeps you on the edge of your seat every freaking minute until the very end. It is basically a chamber play, taking place almost entirely in the ABC studio. You get sucked into this little universe of the still-analog world of that time. The main characters deliver great performances, and the editing builds the tension perfectly up to the tragic climax. So, if you look at it purely as a thriller, it is fantastic.
But unfortunately, it severely downplays the negative impact that the media had. At one point, John Magaro's character asks whether the failed attempt to rescue the hostages might have been influenced by their coverage. YES, it was! This is historically proven. The terrorists saw the ABC footage and realized the police were coming. ABC endangered the hostages, who might have been rescued. You can't just gloss over that.
The movie makes the mistake of showing the journalists' dilemma without commenting on it. That would be fair-if it didn't portray them in a heroic light. The credits mention that 900 million people watched this. But the real question is: Should they have? This isn't a documentary, so it doesn't have to be 100% accurate, but it still has a responsibility.