Controversy over the ethics of the media exchanging favorable news stories for advertising dollars is on the rise after a recent study by Millward Brown showed that 19 percent of senior U.S. marketers surveyed said that they bought advertising in return for a news story.

The annual Marketing Management Survey of 252 CMOs, marketing directors and marketing VPs also found that 10 percent had some type of implicit or non-verbal agreement with an outlet that expected some type of favorable coverage of their company in exchange for advertising. Eight percent said that they actually paid for or provided a gift in order to place a favorable news story.

These results are consistent with those from previous years and continue to place both the media and marketers in a spotlight. How can the media maintain credibility as a watchdog if they agree to accept advertising in exchange for slanted articles? And how can marketers maintain the integrity of their brand if word slips that they are paying for credibility?

The line becomes further blurred when digital media and consumer-generated news comes under scrutiny. Should a blogger receive compensation or free products in exchange for positive "buzz" about a company's new product or service? Should they disclose this fact if they do?

While the temptation for marketers to buy credibility and reputation can be overwhelming, the potential danger of being exposed or manipulated can't be overlooked. Executives should eschew the "easy" route of buying PR and focus instead on the tried and true method of establishing credible media relations and earning their headlines.