The dominant models of search and social for discovery seem to point to the need for syndication above the need for subscription to branded channels. The syndication model in turn requires additional focus on relevance. This, together with the new needs for social and design, again points to the need for media companies to refocus their efforts on their core competency; journalism.
This also points to the need for new platforms that allow these media companies to syndicate their content. Proliferation of individual apps or channels is not the new model. Google/Yahoo news isn’t the new model - they’ve been surpassed by Facebook already. Community sites like Digg and Reddit are not even in the running.
The good news for media is that when they embraces the new model, I think they will make far more money than they ever have in the past due to the combination of broader distribution and better targeting leading to larger ad revenues.