Aggregation shows the man behind the curtain
If you look at news aggregation sites (and news.google.co.uk is very good at illustrating this), you notice that all the newspapers are covering the same news stories, and with very similar language and quotes. That's because they're all taking the same news feeds (mainly from PA here in the UK; AP, Reuters, and others are also seen) and rewriting them with their own 'voice' (or sometimes not bothering even to do that.)
So, all the newspapers really have to offer, that they could legitimately charge readers for, are their columnists - their commentators and opinionists. Oh dear (and how is that working out for The Independent, or the Wall Street Journal?)
(But you can begin to understand why AP were getting shirty about Google's aggregation of what they consider their stories. Except the press agencies are, a lot of the time, rewriting press releases from governments, NGOs, and companies. So they've not contributed all that much either, and we have bloggers now to rewrite others' publicity stories/stunts for free!)