Let's grant him that. The question is then, how will serious reporters outside public broadcasting make a living as the paper media shrivel and the broadcast media replace news by infotainment? Even if online advertising would be a sufficient revenue source to support the reporters, how would the revenue flow to reporters without the current (obsolescent) news production mechanisms? Maybe some new form of syndication, but we don't have those mechanisms in place yet (open access scientific publication suffers form a parallel problem). We better start researching the design of new syndication mechanisms.