The downfall of journalism

There's slightly more concern about the future of the newspaper industry after recent reports indicate both cyclical and structural revenue patterns for newspaper are headed south — fast.

Companies and newsrooms across the country are facing — or have already faced — deep cuts in staff and resources. Yet profit margins at some of the big boys, some of the ones making these huge slashes on the face of serious journalism, remain a normal stockholder's dream.

Even though the raw dollar figures are down, Southern U.S. newspaper chain Media General reported a 17 percent profit margin for 2007. Gannett, the nation's largest paper chain, saw margins of 21 percent.

(Note: Despite these heavy-hitters, some papers truly are just trying to stay afloat.)

Ironically, the Internet means more people than ever read newspapers, and more people expect the type of hard-hitting, fact-digging journalism that these budget cuts tend to hurt.

It's a downward spiral, and until newspapers are either content with smaller profits or find away to fully harness the Internet as a money-making tool, the profession will continue to degrade.