TECHDIRT -- If any trend of the 21st century bears noting, it's the demise of big media. People now have many more media options and they're choosing them by the handfuls. Citations on local radio are as likely to come from indy sources than from mainstream releases. This trend has been acknowledged by CNN and the Wall Street Journal. Irish power users deride big media attempts--such as Sky Ireland or national television--to win viewers by positioning presenters as celebrities. The numbers show big media is slipping.
The important thing to recognise about this trend is the people aren't coming back. If you can get your news in your aggregator, why listen to the mainstream newscasts at all?
This is a seismic shift because major media sources do serve a purpose. Big media outlets elevate news play. To stay abreast of changing user interests, the big players must get more involved with the independent sources.
The editorial linked here suggests that news sources can become "the ratifiers of the news" rather than "the gatekeepers of the news" - taking all the "muck" that flows on independent sites and blogs and adding both context and factual reporting to back it up. This requires a change in mindset because most news organizations despise working with stringers.
Techdirt -- "The end of broadcast"
Vaughn Ververs -- "Opening the Internet floodgates"
Techdirt -- "The changing face of news"