Can the Internet Replace Dying Newspaper Industry?

According to Chris Hedges, the answer is NO.

We live under the happy illusion that we can transfer news-gathering to the Internet. News-gathering will continue to exist, as it does on this Web site and sites such as ProPublica and Slate, but these traditions now have to contend with a new, widespread and ideologically driven partisanship that dominates the dissemination of views and information, from Fox News to blogger screeds. The majority of bloggers and Internet addicts, like the endless rows of talking heads on television, do not report. They are largely parasites who cling to traditional news outlets. They can produce stinging and insightful commentary, which has happily seen the monopoly on opinion pieces by large papers shattered, but they rarely pick up the phone, much less go out and find a story. Nearly all reporting -- I would guess at least 80 percent -- is done by newspapers and the wire services. Take that away and we have a huge black hole.