Journalism is alive and well-apparently

Henry Blodget says that contrary to much speculation

Journalism" is alive and well, as evidenced by the still-robust health of companies like Bloomberg and Reuters, the survival of the New York Times, Wall Street Journal, and other great news organizations, the hyper-growth of online news and commentary sites, and the rise of social media. And change is inevitable.

Yes the internet is changing the environment

The Internet is doing to the news business the same thing it has done to dozens of other industries: disrupting it. Specifically, it is taking an old, inefficient system and making it much faster and more efficient. It is also eliminating enormous overcapacity in the news business (yes, overcapacity--society doesn't need hundreds of White House reporters). As always, this disruption is painful, but it's not necessarily bad. In fact, as far as a lot of people are concerned, it's better.