I think there's a difference between the concept of journalism and content creation / copywriting. Both come from the same school programs in a way, but while the latter is pretty trivially replaced by AI, the former is a combination of curiosity, multi-step investigation, physical ferreting of information and sensations, and emotionally charged writing to get a point across in a way that is recognizable as art when well done. Journalism is safe from AI for now, but was not safe from cost-cutting and (infotainementization?) cultural debasement.
A potential upside is: lowering the marginal cost of page filling drivel so much in conjunction with declining advertisement revenue, the whole industry collapses in on itself, taking opinion pieces with it. The baseline for getting out of journalism school would be "write better than an AI", and the reporter jobs themselves become high status / high difficulty again.
A potential downside is: nothing written ever matters again, all information is a rehashed AP cutting with prompt engineering, and AP / Reuters become a set of controlled bottlenecks.
The scary thing is: this will be decided by whether the paying customer wants to be informed, or feel the warm glow of confirmation bias?