Here's an interesting article about how downsized newsrooms and the outsourcing of reporting/editing can lead to inaccuracies, journalistic ethical problems and credibility issues in the stories we read or watch on television/online: http://www.nytimes.com/2010/01/18/business/media/18papers.html?hpw
Credibility is worth its weight in gold to most legitimate media companies. It's the lifeblood of newspapers like The New York Times. The public is well served by media that strive to get it right. So if the trend of errors and embarrassing mishaps continues, it could mean another financial setback for mainstream news organizations. An unreliable product is not a recipe for success. Without the professional newsroom gatekeepers, almost anything the public reads or views will be suspect and less attractive to customers.
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