I would expect the opposite. It's cheap to write now, which will dilute the voices of traditional media. It's the blogosphere times ten.
Stated another way, the more junk that gets churned out, the less people will take a particular piece of junk seriously.
And if they churn out too much junk (especially obvious manipulative falsehoods) people will have little choice but to de-facto regard the entire body of output as junk. Similar to how many people feel about modern mainstream media (correctly or not it's how many feel) and for the same reasons.