On the day that the second largest US newspaper group was sold, the Project for Excellence in Journalism's third annual report is out. Click here and read it.
Knight Ridder was sold for $4.5bn, but was not the subject of a frenzied bidding battle. As part of the deal, the new owners, McClatchy, will sell some of the portfolio. Knight Ridder management's message to staff can be read here. At least it was sold: in the UK the Daily Mail and General Trust abandoned the sale of its regional newspaper group, Northcliffe Newspapers.
Newspapers are faced with falling ad revenues and the growth of the internet. For media owners it is a question of how and/or whether they move from being primarily paper based to web based. It seems that scarcely a month goes by without the Big Daddy of Big Media, Rupert Murdoch, ruminating upon this very subject. Read his full speech here.
If you'd care to share your thoughts on this report or the state of American journalism today, then please post here:
