So what will all those out-of-work print-journalists do now? I know that the typical newspaper company would love nothing more than cornering larger percentages in their respective markets? But, exactly how long can they really keep competitive with that business model anymore? On the other hand, there will always be a large demand for quality journalism. User generated content is great, but other than the occasional pet-trick on youtube, you don't get too much viral demand for amature articles.
What we would truly need is something for regional journalists to post their articles onto a site like built region-specific, free and user-generated like craigslist. Giving a reader in Wichita the chance to read articles as they relate to "Kansas-> Wichita-> Sports" for instance, but also incorporates reader ratings like Digg. Put these together with a platform for ad providers to find content generators and pay them based upon rating and we have a new model for real journalists to publish what they want to publish, but based upon the success of their articles also receive compensation commensurate with their Digg-like rating...