My response to this question would be that, yes, social media has increased the quality of news and information but as also decreased it.
My reasoning for this would be that both negative and positive points seem to come with the territory. A positive point would be, that with this day and age it is so easy to get caught up with things by either on the internet or the news. It is so easy to put information out there on those blog sites and get in touch with it because of the easy access like on phones, laptops, tablets and the desktop computer. A negative point to that would be that there are so many people out there that call themselves journalists when all they do is post incorrect information. You need to ensure you are actually providing accurate things.
Because blogging has become so popular lately it has giving people like me, who don't necessarily read the newspapers, to get up to date information on important topics which I like. However as a result of that it has make the demand decrease for newspapers, and again there are people who will just blog and post anything without finding out whether it is true or not.
So bottom line would be that there are ups and downs to social media and we just have to be aware of the fact that not everything we see or read is the truth.