I hate to dampen the party here, but I'm not sure that the misfortunes of these companies is really that much of a setback to the liberal media in the long run. Newspaper companies are in trouble more because they are outmoded and inefficient delivery systems more than anything else. Sure there are many of us who don't read the papers because of their obvious leftward political slant, but in the broad scheme of things, that's only part of why they are losing readers and ultimately advertisers - and almost certainly not the biggest part.
When this all shakes out, NYT, Tribune, McClatchy et. al. may go out of business or be severely diminished, but ultimately I suspect that many of the journalists who work for them will find some outlet on the Web or elsewhere that will run their biased content. I suppose there's a lot to be said for the idea that this process might even the playing field a little more as it is taking away some of the entrenched and established outlets which are living off their past reputations. Still, I can't help but think that conservatives will always have a disadvantage when it comes to media voice as we are the ones who are more likely to be out actively doing things, making money, etc. while the liberals are more naturally drawn to passively sitting around and commenting/second guessing on what others are doing (which, like it or not, is a good part of what modern journalism entails).
You may be correct. But this is definitely progress and good news for us, and I'll take any I can get....