The News About the Internet - The New York Review of Books
It's worth reading the whole piece, but if you don't want to take the time, the essence is in this quote from the Pew Research Center's Project for Excellence in Journalism's 2009 "State of the News Media" report:
Power is shifting to the individual journalist and away, by degrees, from journalistic institutions.... Through search, e-mail, blogs, social media and more, consumers are gravitating to the work of individual writers and voices, and away somewhat from institutional brand. Journalists who have left legacy news organizations are attracting funding to create their own websites.... Experiments like GlobalPost are testing whether individual journalists can become independent contractors offering reporting to various sites, in much the way photographers have operated for years at magazines.