I agree with what Spitbull said:
Anyone with an Internet connection and a functioning brain can provide analysis of and opinions on the news--newspapers no longer have a comparative advantage in that realm--but someone still has to do the hard work of reporting the news in the first place.
Bloggers have better news analysis and opinions than what you can read in a mainstream newspaper. But how many people are going to forsake mainstream sources and seek out blogs? When most people go online to read news, the first place they go to is CNN.com, washingtonpost.com, or some other big news portal. So big news portals still control the opinions most web surfers read.
I think Matt Drudge has the largest readership of any alternative media source, but he doesn't really offer any of his own analysis or opinions.
I sure hope that blogs will help spread alternative points of view. Because there aren't enough libertarians in the mainstream media.
I went out with my anorexic roommate last night. Not much to say about that. Gave my phone number to two guys, so maybe I'll get some free dinners next week. I am looking forward to the New Year's Eve party tonight.