Hey, Jeff has the best piece I've seen on how journalism and the news industry is evolving. He also shows how we could free up a lot of reporters to get back to investigative journalism:
[Newsrooms] also need to waste less effort, talent, and money on commodity news, the news we already know, the news we could write ourselves if we watched CSpan or CNN. If you can link to it, if the audience already knows it, why spend ever-more-precious resources redoing it? Instead, it is better to concentrate on a newsroom's real value, reporting: journalists' ability to ask the questions people in power don't want asked, to be an advocate for the public to power, to get to the bottom of debates, to add perspective, to be local. Journalists aren't the only ones who can do that, but that is still their primary value.