News isn't dead, only our consumption patterns have changed and it is definitely still more mainstream than being limited to news junkies, I don't know why everyone keeps saying that. Like, ask anyone if they watch the news, and the answer is no, but we're all on Hacker News or digg or insert_community_of_choice here and consuming "news" in other ways.
I think that twitter will probably be the platform that the next generation "news" app is built on. What it will do, and who it will appeal to are open questions...