Future of Journalism – Waxman Sees Government Role

BroadbandBreakfast summarizes the highlights of Day Two of the Federal Trade Commission’s workshop on the future of journalism. These include the opening speech by House Commerce Committee Chairman Henry Waxman and former FCC Chairman Reed Hundt’s presentation of the Knight Commission report.

Benjamin Todd Jealous, president of the NAACP and one of the 15 members of the Knight Commission, also spoke at the workshop yesterday.

Rep. Waxman said he forsees a role for government in shaping the future of journalism in his remarks.  Citing the structural threat to the prevailing business model of mainstream journalism and the negative impact that newspaper closures have had in Denver, San Francisco and Seattle, Waxman warned, “We cannot risk the loss of an informed public and all that means because of a ‘market failure.’”

Whether the current situation is the result of market failure or simply the maturation and evolution of markets that come with advances in technology, many would agree that it is a fair question to ask whether the rules and regulations that govern or restrict U.S. media institutions need to be changed. Recent reform proposals fall into six main areas outlined by Waxman: the creation of new legal and tax structures for publishers, more philanthropic support for journalism, antitrust reform, review of media ownership restrictions, promoting new sources of journalism (such as the Knight Commission recommendation to increase the role of community and nonprofit institutions in producing news) and increased public funding for public media (also recommended by the Knight Commission).

The debates that are yet to come over these issues will be critically important.  At the heart of the debate are decisions about the key democratic values that are important to preserve in our media system and whether or not reforms will yield the three broad goals advanced by the Knight Commission. Do they maximize the availability of relevant and credible information in every community? Do they enhance the information capacity of individuals? Do they promote public engagement?

We’d like to hear your thoughts on reform proposals now before Congress. We invite you to post them here at www.knightcomm.org.