Friday, February 24, 2006

The News Media It Is A Changing…

Wednesday at the MIT Enterprise Forum of Atlanta (www.mitforum-atlanta.org) Randy Covington, director of Ifra Newsplex at the University of South Carolina, shared with the group how the news media is changing.

He discussed how "citizen journalism" is changing news rooms and pointed to South Korea Ohmynews (http://english.ohmynews.com) as a prime example of this change. Founded in 2000, the news organization’s motto is "Every Citizen is a Reporter." With the efforts of 70 full-time professional journalists and citizen reporters that now number in the more than 40,000 the site is the country’s leading news provider.

Here in the U.S. the news media is change too. On Wednesday Dow Jones & Company announced a new structure that we suspect other news organizations are likely to follow – organizing around the consumer not the media channel.

The company’s news release stated: "Dow Jones will now organize and report its business around three markets: consumer media, enterprise media, and community media. The Company was previously organized around its channels of distribution — print publishing, electronic publishing and community newspapers. This new approach will better align Dow Jones' organizational structure, leadership team, and franchises with its strategic and financial goals."

Richard F. Zannino, chief executive officer of Dow Jones said, "This new structure and leadership team is a major first step in transforming Dow Jones from a channel-focused publishing company to a franchise, market, and customer-focused media company."

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