A lot of Smallville fans thought it wrong of Lois to sleep with Grant because he was her editor, and I understand and agree it was bad ethically, but for my part it was more the fact that it was so quickly after she was hired that she hooked with Grant (and no emotion beyond 'You're hot! Let's do it!') so it led to no other reason than he hired her so he could get into her pants. And when she asked and he claimed she was hired for her writing on the Combat piece, she was either stupid for buying that or she didn't care that it was an obvious lie and got her where she wanted. No way someone gets hired because of one piece in what was a well known magazine rag.
So my point, the editor/reporter hook up idea does not really bother me in fiction so long as there is a legitimate claim that the lower ranking employee got the job based on their own merits and there is a clear build up of the relationship so it's not just all about the sex. I loved His Girl Friday (Cary Grant being the one of the main reasons) but the set up with Walter Burns as editor for the paper on which Hildy Johnson works as a reporter is one of the major reasons besides the great banter which I love. And maybe it was because by the time I'd seen it, I was already a fan of Jack & Jennifer from Days of Our Lives so I was already immune to not caring about ethics of Editor/Reporter dating. Plus you know they have history, they were married, the characters are already set up as willing to bend/break rules for a story/truth so with that, the set up that Hildy earned her place prior to the action in the story, and/or they are fun, morally ambiguous characters so even though they do wrong, you don't care because you love them, as the audience the thought of questioning ethics as to the origin of the relationship doesn't occur.
And with JnJ, you know Jennifer was already working at The Spectator before Jack took over as editor. Jack allowed her to write a story because of her passion for said story (and yes he also thought she was attractive but giving her the story was clearly more because she impressed him than her looks). Then it took a long build up from attraction to friends to starting a relationship, and even then it wasn't until Jennifer took a new job that things really starting heating up for them.
All this is to say that when Lex took over the Daily Planet in season seven, a part of me was really hopeful for a JnJ type storyline between Chloe and Lex. Of course, I'm always looking for a Chlex angle. I knew it would never happen because of the extreme contempt for each other and being on opposing sides and whatnot, but a 'shipper's heart never really dies. So in this imagined world where Chlex didn't absolutely despise each other, and Chloe worked at the DP having rightfully earned her position, and Lex later came in and bought the DP and made himself editor, then the two could playfully antagonize each other and somehow become friends and build up a rapport, then eventually have an attraction lead to love.
So my question is in a piece of fiction, would you have no problems with an editor and a reporter getting together if the reporter has clearly earned his or her place prior to the relationship or would you still say "no! it's ethically and morally wrong and that person is [insert favorite insult here]"?