Again, for the news/information component you are describing the internet. Basically using Twitter as a content aggregator and then "reading" more on whatever grabs your attention. That already exists in dozens of variations online. Twitter is just a "social" version of that. Again, if people like it - great, but it isn't a unique thing. For instance, I have never NOT heard about a Schefter or Rappaport Twitter fueled rumor. But I am not on Twitter. So something is matching the customization, ease, and convenience...I am getting all the NFL rumor news I want and ZERO of the stuff I don't...
Just because a lot of business are using a thing doesn't mean it is a useful or effective thing. Business often do things because of a fear of missing out component. Out of curiosity, I searched around and the only 2 "quantifiable" reasons that businesses were advised to use Twitter was "brand recognition" and "search engine optimization". Again...two things you can 100% accomplish other ways.
Twitter is a lazy way to communicate information, puff up the egos of people who crave attention, and let others filter the internet for you. Everything that Twitter does can be done with other tools/methods. Again, if a person likes it or enjoys it- fine. But I wish people would stop pretending it is this revolutionary necessity.