Here are some thoughts:
-there's no physical reality in any simple or self-evident way
-thus, nothing to distort
-if you're saying that what happens near you might be more important, then, maybe yes, but very often no
-if you're saying that what happens near you is more real, then definitely no
-what are "current events?" it seems like this is the same thing as "the news," yeah?
-the trouble with the news is that it's pure information - not communication like literature or art or talking to a friend. it presupposes identities, relations, imperatives, etc., rather than enunciating them
-deleuze has a really good but challenging chapter in a thousand plateaus, called "The Postulates of Linguistics" -- I think his concept of "order-words" (mots d'ordre) is highly relevant to this question. he says that language in contexts like journalism is about marshaling information so as to reproduce a certain order, rather than being about thought.
-I prefer thought, but I don't know if that has to mean "never read the news". It might mean, "read other things, too."
-It's easy to think of reasons why one would still want to read the news. I spend maybe five minutes typing this, an activity that is supported by a vast network of machines connected mostly by wires.
-somewhere in shenzhen province, perhaps, a worker who makes these machines is in her dormitory bunk bed trying to talk to her internet boyfriend by videochat. I can't know anything of her existence until I read in the paper that she jumped off of the top of her workplace to her death.
-nevertheless, she has been a part of what you call my physical reality all along. she could have made the machine I type on or the wires that connect that machine to the one you are reading it on.
-in fact, I think a lot more could be said about the relationship between journalism, and life, and thinking.
-one might think about marx's time spent writing the news, which led to his research into the theft of wood, which led to his critique of political economy, which...
-one might think of ernest hemingway's obsession with the bullfighting papers, in which he claims to have found "the true art of fiction"
-one might think of kant, trying to put down his idea of 'what is enlightenment' for the public, in a newspaper
-all of that relationship is made obscure when we imagine it as quite simply a distorting influence on our day-to-day.