Working at a newspaper (online dept.), I think these organizations still haven't come to the realization that print isn't going to rebound (very much a "buggy whip" situation, as leed25d suggested). We see reports that show that newspapers' customer base is literally dying off. The younger generations don't have the same place in their lives for dead-tree news.
The economic downturn and advertising nosedive will decrease the available time window for newspapers to evolve. I think many will not make it. This could be a good thing. If there is a need for their services, something will appear to take their place (and eventually something with a viable business model). Startups will lead the way in innovation, and the smart newspapers that survived will learn to rapidly adopt what works (and hopefully cultivate a spirit of innovation themselves).
To be fair, I know a number of "traditional" journalists that have made the leap to Twitter, Digg, StumbleUpon, etc and have embraced these new forms to build flow, readership and conversation. I expect these folks to adapt and provide the professional expertise required for in-depth investigative journalism.