Wow, this stuff is snowballing. Completely missed the news that American Business Media and the Software and Information Industries Association decided to merger... because ABM didn't think they could survive unless they do. The reasoning is "the increasing urgency behind publishers’ transition to digital-driven, multi-platform business models" This announcement comes virtually at the same time that UBM announces their plan to morph into a multi-platform business, rather than just a media company.
I completely agree that this means journalism as we know it is in grave danger of becoming extinct. I think, however, that it means we have to get serious about figuring out what journalism should become.