Lileks Has a Nice Analysis . . .

Lileks says it clearly:

In retrospect, TV looks like a big smothering quilt: it killed the afternoon papers, forced the survivors to consolidate; it reshaped the news cycle to fit its needs, shifted the emphasis to the visual. It fed off the Times and the Post and other surviving papers, which had institutionalized the Watergate and Vietnam templates as the means by which we understand events. The old-line media, like its Boomer components, got old, and like the Boomers, it preferred self-congratulation to self-reflection. And so the Internet had it for lunch, because the Internet does not have to schedule 17 meetings to develop a strategy for impactfully maximizing brand leverage in emerging markets; the Internet does not have to worry about how a decision will affect one’s management trajectory; the Internet smells blood and leaps, and that has turned the game around, for better or worse. So we’re back to where we were in 1904 – except that the guys on the corner shouting WUXTRY, WUXTRY aren’t grimy urchins selling the paper – they’re the people who wrote the damn thing, too.