Couldn't have said it better myself.

I've been trying to make the point that no matter what you may think of newspapers, the view that they are somehow essential to democracy is a myth. 

Here's an interesting article that makes the same point from the left.

Big love for newspapers has also been flowing in from academy/activist circles, a very unlikely source. Many in this orbit blame the press for not spotting our current financial predicament early enough and also believe that every reporter outside of the old Knight Ridder Washington bureau was complicit in the criminal conspiracy that made George W. Bush's invasion of Iraq possible. Bill Moyers encapsulated their view two years ago when he argued against the notion "that the dominant institutions of the press are guardians of democracy. They actually work to keep reality from us, whether it's the truth of money in politics, the social costs of 'free trade,' growing inequality, the resegregation of our public schools, or the devastating onward march of environmental deregulation."