Actually, USC is University of Southern California, and Annenberg School is pretty darn good, from what I understand. You are in a great position either way, since--for journalism--you could not be in a better location (and believe it or not, location can matter a lot for this field, from what I have heard from friends that work in this area).
That being said, I would definitely go with the funding. The Annenberg fellowship will look great on your C.V., as well. Grats.