This is a rewritten version of a post on my private blog from 12/12/2008.Newspapers continue to see their fortunes dwindle as circulation shrinks and classifieds (previously 50% of their income) flee to free online venues. Papers now seem to realize that the Internet is their future, but no one has yet figured out how to reconcile the lower profit margins with their operating costs. While it is becoming obvious that a news agency's primary role is not distributing news, I would argue that additionally it isn't generating news either. The need to increase efficiency will lead to many fewer reporters and editorials, except for extremely important events and the idea of dedicated correspondents will have to largely disappear. This isn't to say that there will not be professional, full time journalists, but the number that work solely for one news agency will seriously decline. What really matters ultimately is the assurance of a news agency that their information will be accurate and their opinion pieces insightful. Thus, editors and reputations will be as important as ever, and should give established agencies an initial edge over the wave of newcomers. In theory, what a news service could finally become is essentially a fact checker, sorting unsubstantiated rumor from credible news and assuring the quality of editorials of anyone, not just those directly employed by them. The ability of users to designate trusted agencies to vet stories for them could serve as a critical method, along with recommendation systems, of making sense of the increasing torrent of information.
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