here's some interesting thoughts about journalism on the internet:

The Internet is a highly effective instrument for bringing news and information rapidly to people. But the economic competitiveness and round-the-clock nature of Internet journalism also contribute to sensationalism and rumor-mongering, to a merging of news, advertising, and entertainment, and to an apparent decline in serious reporting and commentary. Honest journalism is essential to the common good of nations and the international community. Problems now visible in the practice of journalism on the Internet call for speedy correcting by journalists themselves. The sheer overwhelming quantity of information on the Internet, much of it unevaluated as to accuracy and relevance, is a problem for many. But we also are concerned lest people make use of the medium's technological capacity for customizing information simply to raise electronic barriers against unfamiliar ideas. That would be an unhealthy development in a pluralistic world where people need to grow in mutual understanding. While Internet users have a duty to be selective and self-disciplined, that should not be carried to the extreme of walling themselves off from others. The medium's implications for psychological development and health likewise need continued study, including the possibility that prolonged immersion in the virtual world of cyberspace may be damaging to some. Although there are many advantages in the capacity technology gives people to “assemble packages of information and services uniquely designed for them,” this also “raises an inescapable question: Will the audience of the future be a multitude of audiences of one?...What would become of solidarity—what would become of love—in a world like that?”

from ethics in internet, published by the pontifical council for social communications.