Below is a Wired news article on how the dynamics of text messaging is threatening the traditional news media. I think the same dynamics apply to blogs as well.

Quotes:

The growing "thumb generation" posed the greatest new challenge to traditional media, with cell-phone text messages conveying news, rumors and gossip, said Pedro J. Ramirez, editor of Spain's El Mundo.

That challenge was evident after the March 11 train bombings in Madrid, Spain, that killed 191 people and injured more than 2,000 others just three days before national elections.

Nina Calarco, editor and publisher of southern Italy's Gazzetta del Sud, said information spread through cell phone messages contributed to Socialist candidate Jose Luis Rodriguez Zapatero's election as Spanish prime minister.

"The (Jose Maria) Aznar government in Spain was unseated by a shower of telephone text messages, an alternative to the traditional print media, which was initially repeating the government line that the train bombings should be blamed on Basque terrorism instead of al-Qaida," Calarco said.