Serge Halimi of Le Monde Diplomatique surveys journalism's current condition before stating the obvious:
The internet has not destroyed journalism. It has been stumbling for some time under the weight of restructurings, marketing-driven content, contempt for working class readership, and under the influence of billionaires and advertisers. It wasn't the internet that propagated the allies' untruths during the first Gulf war (1991) or Nato's during the Kosovo conflict or the Pentagon's during the Iraq war. Nor can we blame the internet for the media's inability to publicise the collapse of savings banks in the US in 1989 and the collapse of emerging nations eight years later, or to warn of the housing bubble for which we are all still paying the price. So if the press really needs to be saved, public money would be better spent on those who purvey information reliably and independently rather than those who just hawk malicious gossip. Those who want to make money from investments or from being pens for hire can find resources elsewhere.
The crisis in contemporary journalism is, then, self-inflicted.