Leeeet's see here. How do people get their news? They... Google it, a lot of the time. If all the big sites opt out of Google (or any other search engine), what do they get?
Lost profits and lost traffic. That's it.
People will still Google the news. People will ALWAYS Google the news. Maybe this guy doesn't understand, but there is such a thing as "independent words" now. So, people won't see the big-bad-news-company's twisted and biased words anymore (Love ya for opening my eyes to that, Fox News). In place of that, the top result will be the leading independent news site's posting on the matter. And they'll get the ad revenue and brand impression. Score one for the little guy, I guess.
That internet-box is evil, I say! I hate senile old farts. *facepalm*