UTS= best at journalism.
People in my journalism class have actually transferred from USyd and say how much better UTS is. At USyd, they don't even get to write any journalism stories until end of 2nd year/3rd year!!! We had produced our first news story within 4 weeks of starting uni. USyd is all theory... UTS is a great balance of theory and practice which makes it so much easier to understand the theory. My tutor was a working journalist (all of them are) and gave us great advice.
The fact is, you will never get a job as a journalist unless you build up a portfolio of published work. I have been at UTS one semester and have already had stuff published. I should have a bulky portfolio at the end of the course, plus a lot of media connections that will make it a lot easier to get a job in the industry.
The second best journalism course is at CSU Bathurst. Then the next best courses are probably courses at RMIT in Melbourne or some of the Qld ones.
If you are serious about a career in journalism, go UTS. If you can't make it in, my next recommendation would be CSU Bathurst. And I think you will find that these are the two preferred universities for journalism graduates because they both offer a lot of practical work along with the theory, and graduates from these unis actually know how to produce stories and find information, rather than just being able to recite you a textbook about it.
Also, UNSW's media comm course is very computer based and not very much about journalism or anything like that, so I would steer clear of it if you are after a career in journalism because that isn't the career outcome that it leads to.
Out of the big Sydney unis, it would be UTS, USyd and UNSW in order from best to not so good. UTS kicks ass though. Also, something to keep in mind as to why USyd's media comm course cutoff is so high... they only let a very small number of people in so the cutoff looks high so people think the course is better/more popular than at UTS. Don't be decieved by the cutoffs. I nearly was but I am happy I ended up at UTS because it is the best.
Just my opinion.... and of course I am not biased lol.