Keeping with what's new in society is important insofar as having an informed population is vital for the correct functioning of a democracy. But the "news industry" is 95% gargabe and contributes zero to getting people informed. I firmly believe that if the news industry disappeared tomorrow, we wouldn't be much worse off as a society.
That google is a bad player should be dealt with on its own. We shouldn't be using the "news industry" as a justification for breaking google up.
EDIT: In fact I had never thought about it, but even as far as keeping people informed, google is better than the "news industry". At least with google I can find links which I use as starting points for reasearching something.