File sharing does not create music. Blogs, mostly, do not create news. They do greatly streamline the distribution though. What record companies need to do is become music companies(and stop trying to turn back the clock through lawsuits). Newspapers need to become news-companies. It's a minor change in market structure, not a "new digital paradigm."
File sharing does not create anything new, only spread that which has been created.
Many people in the extreme of file-share ideology trivialize the value and work put into content creation. This is similar to how early communists trivialized the value and work added to physical products by business men.
I love the Internet, but please stop talking about how the Internet is going to kill newspapers when all it's going to do is kill an outdated distribution model. Most of the decline in circulation started before the Internet came into power, and has more to do with corporations destroying content and profiteering than anything else. There are many print outlets that have focused on quality journalism that are still very profitable.