Journalism.org recently released their 2005 report on the state of the news media. We have seen a lot of interesting changes taking place in news. Participatory journalism, centering on the blogosphere, has been the main event. But lets not forget the battles Google News has had and is having, The New York Times purchase of About.com, and the number of longtime nightly news anchors calling it quits.
I think this latest report may shed some light on the underlying issues which created some of the events above, as well as what the future holds. While not a quick read, the report can be printed in parts from the index. You can find it here: State of the News Media.