The Economist quotes Rupert Murdoch saying so. I predict a set of better paid part time specialist bloggers taking over for the generalist newspaper journalists. It may happen soon:

Whereas 56% of Americans haven’t heard of blogs, and only 3% read them daily, among the young they are standard fare, with 44% of online Americans aged 18-29 reading them often, according to a poll by CNN/USA Today/Gallup.