Big Hat Tip to Strong Conservative
The New York Times owner has said that in five years they likely won't publish a printed paper.
The medium is the message - societies are defined by their means of communication - not its content. The key will be newsgathering - it is immensely expensive to maintain an organization to provide news. Thats why there's an AP or Reuters.
The edge for blogs will come from people on the scene - any scene. News happens everywhere all at once. Local bureaus, news services can't do it. They're not in a war zone when something happens, nor in Easton, PA when a child falls down a well. Bloggers are. This medium (a personal and published news gathering and distribution system) will end up being the source of all knowledge in real time. Big Media will even rely on bloggers. Will there be bias? Yes. But bloggers are far better at identifying their specific biases than big media.