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Recently there's been a boatload of articles, reports, and posts about journalism and journalists. Many of these stories predict various "deaths" (the death of the newspaper is a common theme).
Jeff Jarvis has a terrific analysis from the perspective of what journalism actually is. Jeff suggests cutting the act of journalism into its component pieces which he says are: Witnessing, Asking, Editing, Commenting, and Distributing. "So if old journalism were smart, it would find ways to support the new: Train the everybodies doing journalism; share financial support with them; share trust with them; find the best of them; aggregate them; share the spotlight with them; take advantage of the work they do; respect them."
Another perspective (from Newstex advisory board member David Scott) is to forget about the whole notion of defining "journalism" and just look at The Web as a City.
In the end it doesn't really matter how you look at it -- as new forms of content find audiences, older forms of content must compete for mind share. With consumer choice comes the challenge of acquisition.
We agree with Jeff -- it's important to aggregate all the terrific content available regardless of how one would define it.