Biz Stone is one of Twitters founders. In the following article he discusses the role of Twitter in journalism.
The news applications surprised us… We noticed in prototypes early on, though, that things like earthquakes led to Twitter updates. The first Twitter report of the ground shaking during recent tremors in California, for example, came nine minutes before the first Associated Press alert. So we knew early on that a shared event such as an earthquake would lead people to look at Twitter for news almost without thinking.