Absolutely. Circa 1900, the delay from a major event occurring in New Zealand, and newspapers carrying the story in London, could be as little as a few hours.

Absolutely. Circa 1900, the delay from a major event occurring in New Zealand, and newspapers carrying the story in London, could be as little as a few hours. And the 24 hour news cycle was born. The revolution wasn't just for the newspapers, either. Telegraphy meant you could sell your ship's cargo at the destination port before you even arrived! No more prices always two weeks out of date. And so the modern supply chain was born, too. (As I understand it, that economic force, more than anything else, is what really financed the first transatlantic cables.)