With the establishment of blogs, facebook and most recently twitter (even though it is a 3 year old technology), there are multiple venues for any one who can get to a computer to become a write and/ or journalist. The “media” has the possiblity to be taken over by amateurs. Some argue this has already happened. Others argue that the “democraziation” of the media is a great thing. They say there is an opportunity for an average person to have real influence. Others say so what, I do not care what some “D&D” nerd has to say about recent events. The jury is out in my mind. What say you?
A Pastor's Thoughts 
From my perspective, social media threatens traditional media in the following ways:
1. Traditional media always being considered authoritative. Now that “commoners” can report directly it somewhat reduced the reliance we have on news websites / TV programs, etc.
2. Social media erodes biases / political agendas that traditional media outlets have. This is a great thing.
3. “Real influence” is very subjective, but I would submit that the more exposure information from sources (non-professional reporters) closer to the stories / events – the better the context it provides for the readers.
The first picture from the Hudson River plane crash was via Twitter. http://is.gd/grHa
Love your thoughts Chris. Those are great points. I am still thinking through all this.