What I've never understood about the media deathwatch mentality is the idea that Google News, let's say, will supplant newspapers. At this point, Google News is newspapers. It compiles content.
The entire blog world feeds off the mainstream media. Few bloggers do their own reporting, and even if they do, they certainly don't produce the amount of quality content that even a mid-level or small newspaper does.
That doesn't mean bloggers shouldn't report. Of course they should. It doesn't mean Google News shouldn't hire reporters. It might makes sense. But at this point, both of these media spheres -- which are the "alive," "happening" ones, happen to be entirely dependent on the "declining," "mature" old media.
A strange contradiction, no? It would seem that each side has an interest in keeping the other going. But you wouldn't know it from the way people rant.