Twitter's coverage of the Arab Spring was better than any Western media in the early days... food for thought.
I would disagree. First of all, my parents dont know how to use twitter. But lets say thats just a generational problem which will solve itself over time. There is still another issue:
The signal to noise ratio on twitter is very low. To get a good information on, lets say the arab spring, I have to spend quite some time digging through many tweets to distill the relevant information. A not dismissible overhead. And even if I managed to find out all relevant tweets and managed to form a coherent image from those splinters of information (which could be hard because I may be missing relevant background information) I still dont know if I based my model on legitimate sources. Regimes knows just as well which power lies in the social media and are eager to spread false information and propaganda.
Of course, false information is a problem also existent with classical journalism, but to a much lesser degree. They build their reputation as a reliable source of information (especially abroad in very intransparent situations like the arab spring) over many years with a network of trusted correspondents.
Thats something which is very difficult to replace with social news mechanisms.
To tackle the problem you describe its important to encourage critical thinking and to not rely on one newssource. And we need investigative journalists. And whistleblower. And social media. And luck.
Its very hard to counter governmental lies on such a big scale.
In germany we have a couple public tv stations which are financed through a fee everyone owning a tv must pay, regardless if they watch those channels or not. They arent bound to a viewing quota, are independet from the government and have an educational mandate.
Well, at least in theory: In practice huge amounts of money are just wasted by a gigantic bureaucratic apparatus, politicians and the church have a saying in the content and the stuff shown is becoming more and more like the crap on private tv stations.
I think something like this could be a viable solutions. But implementing it, especially the algorithm which decides who gets how much is very hard if not impossible. To much attack surface for illegitimate interventions.
edit: typed that comment before I had time to view your link. great read. Never really thought about the "save newspapers vs save journalists vs save society" aspect.