I came across this excellent article which characterizes the modern news media in a way that I believe is growing increasingly accurate. I thought I would pass it along.
One of my favorite political blogs is Daily Kos. Recently the founder of the blog, Markos Moulitsas, was interviewed on cspan.org. Markos seems to be an excellent poster child for this new movement in media. I think his ideas on the subject are right on. I recommend watching the interview for his ideas on the state of the blogging medium and for his thoughts on the appropriate role for blogs in the economy of journalism.
Here's the interview from the cspan.org site in realplayer format.
Update: Apparently Mozilla is not creating the link to the interview correctly. In case you need to cut and paste into your browser window, the URL is: rtsp://video.c-span.org/archive/qa/qa041005.rm
Signatures of consequential people
illustrations of people in transition
can there be a / sanity / in / desire? /
To pursue or to be pursued?
to truly be an individual
  idolatry adulation
While reaching for the next thing,
the footholds give way