A new business model for news gathering and reporting?

Here's a relatively lengthy discussion of the changes that are taking place in news reporting and what the future model might look like. 

Here is an excerpt discussing the role of the internet in today's journalism:

"For all the bad things that bloggers put out there [during the election], they have one really significant advantage over the dinosaur networks, which is their relationship to accuracy," Socolow said. "The bloggers' power is in their ability to fact-check mainstream journalism in a new way."

The fallout from Rather's Bush report is proof of that power: It was bloggers - not television or print journalists - who first questioned the authenticity of the documents on which 60 Minutes II based the segment.

"What's more basic to journalism than fact-checking and accuracy?" Socolow says. "That's what bloggers are providing, as the Bush-Rather story illustrates. CBS News - or The New York Times for that matter - never had to worry about its journalism being independently evaluated the way it is today on the Internet."

Read the whole article [via Glenn Reynolds].