This gives these media companies way too much credit. If they had this much self-awareness and intelligence they wouldn't have been caught out by the rise of social media in the first place.
"Traditional media" has had hundreds of years to get it's business model down and comfortably integrated into society, so of course new media is having the lion's share of the problems which is being reported on. This should all be totally obvious and expected - it's not really a massive conspiracy - it's innovative business models forcing new problems into the open. Facebook, YouTube and Twitter have been in the public consciousness for less than 15 years.