Online News.. Does it really matter?

With everyone on twitter trying to be the first to post a breaking news story, I am beginning to see the lack of importance for online news sources. The most important news comes from tech-news websites all trying to be the first to leak it onto twitter. I realize a common discussion is how print sources are moving to digital, but at the same time I am almost thinking that these children media sources will soon be phased out by the biggest and best, the masters of all.