Tradional media coorporations are doomed as well. They used to think: 'we paid for the news, we control the news, we say what is the news and what isn't'. It is time for their wake up call. Internet has long promised to take on their monopoly, and is now delivering. They are jblogs - the journalist blogs like Back-to-Iraq 3.0 or Andrewsulivan. They are free to read, but accept donations - and deliver news from various places, from Iraq to US elections, free from coorporation spin. And they are honest about it - they don't say 'I bring best unbiased news'. Their honestly state their perferences, and don't try to sneak any hidden agenda whithin their reports.
And this is just the start of the new free media avalanche. As with other Internet based things, it is all happening right now: witness Wikinews, a project spawned from Wikipedia: Current Events, which is being discussed and voted at that very moment on Wikimedia, the partent of Wikipedia and many other Big Letter Wiki projects.
And in the backgrounds, freeware tools like NAS (News Aggregator Software) further undermine the traditional media corporations monopoly...
Can you hear the dinosaurs swan song?