The legacy media isn't dying. It's already dead. Nobody has cable anymore. Nobody watches the news. No young person watches CNN or ABC or CBS willingly. They certainly don't pay for it. Maybe they watch clips if anything. MSM has tried and failed to force YouTube to shove content down people's throats. They don't watch it. It's not popular. Everyone goes to Joe Rogan or various other news podcasts and individual content creators for news, or even better, X. Once Boomers die off, their ratings are going to plummet into the ocean because nobody actually watches Rachel Maddow.
Just ask Don Lemon. His podcast does absolutely PATHETIC numbers. He thought he was going to leave CNN and become a millionaire podcaster. Instead he's on the boardwalk of the Jersey Shore with people going "Wait who are you again?" before he even asks a question. Literally nobody gives a flying fuck about MSM. The only news network thriving is Fox and even that is on the downswing because again, nobody has cable.