Earlier this year General Motors decided to pull all of its advertising from the Los Angeles Times. They were eviscerated by the mainstream media. GM chose to tell its side of the story through it's own blog Fastlane. The comments left there by the general public were overwhelmingly supporting of GM.
For the first time, you have a tool that enables you to get your message out directly to your audience, bypassing the traditional gatekeepers in the media.
This ability is valuable not just in times of controversy. Picture this: You are interviewed by the local newspaper. You work hard to convey your message clearly and concisely to the reporter and as the interview concludes you appear to have been successful. Unfortunately (and much to your disappointment), by the time the reporter is done writing and putting his own slant on the story, and the Editor is done editing, little of your original message survives.
A blog lets you tell your story in words you choose.