My take: The Balkanization of the news media with pay walls is a dangerous development that is likely to lead to a serious reduction of real democracy in the US.
See Politico blogger's report on this basic details.
http://bit.ly/wT4OBL
My take: Imagine if, in 2002, you could only afford to party for a NyTimes subscription. You would not have the tools to evaluate whether to go to ear on Iraq or not.
Though our national leaders still decided to go to war possibly because of the under- developed blogging society at the time, many Americans knew how terrible the decision was.
I imagine the extreme right, Koch Industries, and other special interests will still offer news for free, but you can guess how balanced those sources will be.