The Evolution of the Journalism Industry

The Washington Post continues its coverage:

• Time Magazine will cut almost 300 jobs. According to company officials: "The layoffs are about the restructuring of our editorial staffs as we move quickly into a future of flexible, multiplatform content creation...we need to continue to evolve to meet the cost pressures and challenges presented by our rapidly shifting industry."
• Private equity firms have taken an interest in purchasing struggling news companies: "That unsettles some, who fear that private equity's focus on short-term gain will lead to more cuts and quality reductions in an already shaky industry. But Freedom president Scott N. Flanders said private-equity ownership of newspapers is actually the best idea for this turbulent era. "Media companies in transition should be private," Flanders said. "When you're privately backed, you have the flexibility to be nimble."