Always be understanding your market advantage (a large newsroom full of people with valuable fact-gathering & vetting experience), and how you can leverage that to beat the snot out of the competition. (By, for instance, running fact-checks in the Book Review section, or calling out factual BS in letters to the editor, or assigning web-only editor/bloggers to track inflammatory political stories & rumors.)
Wise advise for the beleaguered bird-cage liner industry from Matt Welch. More controversial:
If you want to react to the New Reality in the most dynamic way, consider swallowing the Jay Rosen Pill & becoming an opposition press. Or more precisely, a news organization with a specific political profile. Truth is, tons of these already exist (alt weeklies, and dailies like the WashTimes, NYsun & Post, Pitt Trib-Review, etc.); but embracing it with zest could be very lucrative & fun for the trailblazer.
Me, I think you should think ahead of the trends, sell that nonsense short, and prepare for the fact that the business is going to swing so far in that direction that people are going to get sick of compensating for the filter and start yearning for to-the-point, just-the-facts old-school journalism again. Or how about consistently finding stories that your competitors don't cover, but that people really need and want to know about, and doing a good job covering them?