The web is a much better vehicle for disseminating an evolving event, since you can just append the new items to the original story, and edit those items that turn out to be based on bad info.
This is why, when something happens, I just go and open up tabs to FR and Drudge.
Internet media provides a far more effective means of conveying information, vetting it and discussing different aspects of the said event.
While facts can be obscured just as easily, the amount of factual information that can be communicated far outweighs the lesser aspects of a truly public media.