The only way to save journalism is to develop a new model that finds profit in truth, vigilance, and social responsibility.
The old model was beautifully simple. A newspaper publisher in a
monopoly market in the twentieth century was like those counts of Savoy
who built a castle on the rock of Chillon between the foot of a
mountain and the edge of Ltke Geneva. Travelers could swim the lake or
climb the mountain, or they could pay a toll to the occupants of the
castle. That arrangement kept the Savoys and their heirs rich and
comfortable for three centuries.
Today, the castle is a museum. Technology has created other ways to
cross the lake and the mountain. And so it is with publishers. They
still own the channel along which information is passed between local
retailers and their customers, but it’s no longer exclusive. — Philip Meyer Columbia Journalism Review (2004)