I believe that linking is indeed a good idea for mainstream outlets. I think it will create more web traffic, and credibility to other websites as well. People love quick and easy things, and what is easier then going to a website and finding links for other similiar websites? It is convenient to have links to other information that pertains to the website and story you are reading.
I do not think it will make other mainstream sites such as the Associated Press obsolete because it is a major site that people would stay faithful to. The linking must however, be credible and useful information. If the links are useless and unrelated to the topic at hand, their credibility then will become obsolete.
In general, I think linking is in fact a good idea, and will become even greater with time.
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