Ahead of tonight's talk (Print is dead: long live new media) take a look at my news reader this morning. It's dominated by news feeds from traditional media sources (The Guardian newspaper and PR Week in my case). Only one solitary PR blogger interrupts the stream of news from professional reporters (the energetic Trevor Cook).
One hypothesis suggests that new media will replace old media; this is supported by the closure of some magazines and the decline in circulation (and advertising revenues) of most newspapers. Another hypothesis argues that the traditional skills of the news journalist (speed, selectivity, accuracy, compelling storytelling, editing) gain new value online; that there's new life in old brands.
Notice how both hypotheses can be true when traditional media adapts for an online future.