News content is more readily available than ever before. The rise of twitter has attributed to journalists becoming household names in their own right to a greater extent than they once were. Their writing was all they had to affirm their reputations prior to that.
The rise of social media, in line with an increasingly competitive sports journalism, is bound to lead to greater inaccuracy. Phone hacking was widely interrogated and curtailed, albeit it still exists, but I don't think it was widely used as means to identify transfer stories. Phone hacking had a greater, more important purpose, implemented to prey on the private lives of very high profile people in a very different field.
Good stories still exist like they always have done. Lots of good work regarding Ramos being printed as we speak, for example.