I believe it does. It goes far beyond in that it extends in at least three respects. First of all, it extends what I would call a qualified class privilege because of the reverse onus on journalists, not in respect of confidential information but of any source information.
Second, it attempts to codify requirements for search warrants but leaves out many of the requirements that are identified in the case law as factors to be considered and leaves them as sole criteria, so that in the absence of those criteria you wouldn't get the warrant. In current circumstances it would be a balance of many factors.
And last, what I call the work product exception is not found in the law, not only here but anywhere else that I've been able to find.