David Weinberger asks: "After press conferences, what?"
The idea became real for me at a Microsoft press event at the Palace Hotel in 2005. Ray Ozzie introducing himself as the new CTO. After the event we all went upstairs to a small ballroom where there was all kinds of food and refreshment and a mix of bloggers, developers, reporters and Microsoft execs. The party went on for a couple of hours with people reporting live from the event out through their blogs.
So imho what happens in the rebooted news system are open newsrooms. I'm not talking about virtual (online) newsrooms. A couple in SF, one for tech and another for biotech (different people, different issues). In NYC, you'd have an open newsroom for tech, and one for finance, fashion, perhaps sports. In every geographic center, you'd have one or more such facilities.
The idea developed -- let's put two podiums at either ends of the room with vendors paying to make presentations. There's an EIC for each open newsroom who can also give time to open source projects in all these fields (open source sports and fashion -- interesting).