Take the case of Newsweek: a periodical written by journalists for journalists ...
There was a time when people thought, "Journalists follow these things closer than most people do, so we should listen a little closer to them."
Then we started hearing about "The case for killing Grandma" and "The new adultery" and people started realizing there just isn't any enlightenment there. Similar scandals committed overtly by journalists (Rathergate, JournoList) showing journalists were deliberately trying to sway people's opinions poisoned general confidence in the mainstream news.
In terms of real investigative work, journalists abandoned that some time ago. Remember when the press was upset they didn't know where Dick Cheney went? They basically said, "We can't be responsible for digging into these things!" And forget about finding out about what happened in Benghazi.
People view journalists very negatively now, which the Republicans exploit regularly (esp. Gingrich, Cruz, and Trump). This political strategy pays off for them. I have seen studies showing people hold journalists with slighly more esteem than lawyers and slightly less than actors ... but they're at the bottom of the barrel because they are just different flavors of people who tell semi-sophisticated lies professionally.
The blogosphere is the news underground. Some of it is gossipmongery, and some of it is real. The advantage is people can decide who they trust and not just some AP writers semi-disguised opinion that has been syndicated everywhere.
The main reason less than 50% of Americans believe in evolution is because public curriculum enforces that it is the only voice that is heard, which I like because it encourages heavy skepticism from ordinary people. This same mechanism also ensures people will not trust the AGW claims either. Which I am also very happy about.
So, journalism is dead. People can form their own opinions now.