Ping.
So in your considered opinion, just how transforming will the invention of the internet be? In my not so humble opinion, history will show it to be as significant as movable type. It will shatter more centers of power than you can imagine.
...There is also another point (albeit a negative one) that has also caused the News Industry to erode: Arrogance.
When an organization of people believes only their 'brand' of information is 'authentic', 'accurate', and 'legitimate' as is the mindset of the MSM within the Manhattan/Los Angeles circles, and entities such as Fox News, Talk Radio, and the Blogs are seen as unwelcome 'intruders', there's a huge problem, not to mention the swollen egos that go along with it.
I agree with your comment from another thread regarding legal action against the AP.
Forcing news agencies to provide disclaimers warning the audience not to expect objectivity would go a long way toward solving the problem.