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ChatGPT cannot create breaking news because it does not create content by itself, it can only analyze what is available online and create content based on existing data. However, it can of course create news stories that have already been published online and it can help journalists to create news stories.
I don't think ChatGPT will affect the Journalism industry in the future as Journalists gather news reports on current events.
Unless in the future there will be a way for ChatGPT to create the content by itself, I don't think it will impact Journalism.
I don't think it'll have that big of an impact, as ChatGpt isn't even capable of deciphering what information is news-worthy. Furthermore, in its current state, ChatGpt, outside of helping with things like ideas for topics or writing a draft for an article, isn't really useful to journalists.
I know that ChatGPT will not affect the Journalism industry in the future because of how the work of Journalists in gathering news reports on current events is carried out. The AI program can use used to analyze news gathers and rewrite information but it can't do more than that. Unless the AI program will be upgraded to gather breaking news without human assistance, then it's going to affect journalism in a big way.