Yes, a very logical conclusion.
I frequent the websites and blogs of the 'journalism community' most every day. Romenesko, CJR, E&P, Nieman Journalism Lab, etc. What is clear (and quite amusing) is that the prospect of them losing the ability to control information flow is causing them to become unhinged. Deep down, they view this as a greater evil than their economic problems. How dare these untrained people even be allowed to write and report and opine!
From time to time I throw a stink bomb in amongst them...
Just damn. When you google one book, you find two others that need to be read. These look to be must reads that would show some history of what happened BEFORE the telegraph came along and how the newspapers co-operated.
The Nation’s Newsbrokers: The formative years, from pretelegraph to 1865
By Richard Allen Schwarzlose