Steve Rubel is applying Chris Anderson's Long Tail theory to the world of news media and concludes that blogs have a place withing this landscape. The article is a bit thin in terms of evidence, but I like his thought.
"A similar long tail effect is now forming in the media content sphere. As blogging becomes more popular, it is now easier for news consumers to find specific niche blog sites that adequately meet their information needs. It doesn’t matter if you’re interested in knitting, gadgets, cars, sports, politics or music, there’s a blogger out there who’s covering it well who can serve as your information filter."