The Internet is indeed powerful, and in large part responsible for the diminishing of the MSM's power.
HOWEVER, TV news is still more powerful than the internet, and TV news flows from the news services ... and the newspapers.
A very significant portion of the electorate is computer-illiterate (not to mention a segment that is all-around illiterate) and let's face it, there is a lot of nuttiness on all sides of the internet.
Nah, the MSM is very sick, but it ain't dead.