Moonves explained in a memo: "Dan Rather has already apologized for the segment and taken responsibility for his part in the broadcast. He voluntarily moved to set a date to step down from the CBS EVENING NEWS in March of 2005... after examining the report and thinking about its implications, we believe any further action would not be appropriate."Rather will deny it to his dying day, but the fact is that the bloggers shot him down off his high horse.
This is a true sign that the news paradigm is shifting away from the monopolistic network news services. The New Media, bloggers and talk radio, have forced this shift. The idea that people can get news in their email or from a website that is just as good or better than the evening network news is so inconceivable to the network big wigs that I predict that we will have more Rathergates un the future. Especially with the bloggers wielding the awesome fact checking power of the internet. Roger L. Simon thinks that Anchormen will soon be extinct, or should be. Scrappleface has an interesting idea: Reality TV style news.
Here's the Instapundit roundup of reactions. I will link editorials as the become available.