I wouldn’t count out the old fashioned media if only because many places have no other outlets for gathering and disseminating news; there will still be a market for local news that bloggers are unlikely to break soon. The strongest effect of online media appears to be the decline of the editorial page and the know-it-all columnist. Even so, Thomas Friedman hasn’t lost his job at the New York Times due to competition from Powerline and the Daily Kos. At least not yet.