[Reposted from old comment system, from Jvanstry@nyx.net on Fri, 25 Feb 2011 03:50:39 0000]
I have to disagree with you. We are seeing now, just how much the traditional news services (like the NY Times you mentioned above) will totally refuse to report on something, if it goes against their political beliefs, or even outright lie. Main Stream journalism is very left of center. It refused to do any investigative reporting on a person who no one knew anything about, and now that person is president and they still refuse to be critical about him, even though there is a lot to be critical about.
Investigative Journalism only works when there is no 'special' relationship between the investigator and the investigatee. However most media these days is firmly in the pocket of the political parties. They haven't lost their share because of the internet, they lost their share when people started finding out how much they were being misled.