Another way of looking at it is that we've gained the biggest explosion in expert and first person coverage ever. In the golden era of news, newsrooms essentially had a monopoly on information. If you wanted to get information on e.g. the war in Korea or Vietnam you basically had to turn to the news, at least in the average case. Now if you want to read about e.g. Ukraine/Gaza/Iran/etc, you can read first person accounts from people on the ground, get imagery of things seconds after they happen, and so on.

And then you can also get analysis from people who have dedicated their professional lives to studying the geopolitical, historical, and other issues involved in these conflicts. What does a journalist really bring to the picture here? So really we have more sources of news than ever before, and I think that's largely killed "the news" as an industry, because it's not really clear what their role is supposed to be anymore.

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Robert Kaiser, who worked at the Washington Post through its glory years til its purchase by Bezos, wrote a really excellent article about this some time back, 'The Bad News About the News.' [1] It was written back in 2014, but summed up what had happened and accurately predicted where things would be headed:

"[Companies] have both decided to cater to their audiences not with original reporting of the news (which is expensive), but with commentary on the news interspersed with broadcasts of set-piece events like presidential news conferences. Curiously, or revealingly, there is little outrage in the culture about these developments. We seem to have adapted to the demise of the old expectations about accuracy, fairness, and reporting without much of a fight."

[1] - http://csweb.brookings.edu/content/research/essays/2014/bad-...