Business of the News

1.5 Credits · Level: Undergraduate

This half-semester course will examine how technological, social, and economic changes are re-making the news media industry and will challenge students to analyze and anticipate the industry’s future and the leadership challenges it poses. Assignments will help students develop their writing, speaking, analytical, and strategic thinking skills – in ways that are especially appropriate given the course’s industry focus, but the course is not about “doing” journalism. Rather, it is about the business of the news media. For the last 25 years, that business has been digital. The New York Times introduced its first website in early 1996 when “the market [was] booming for newspapers on the World Wide Web.” And 20 years ago, in 1999, the Wall Street Journal and other publications were actively debating whether they had a future in print or (only) online. Why focus on the business of news? The news and broader media “industry” have experienced more changes than almost any other industry in the last 50 years. Old players have struggled to redefine (and keep redefining) themselves, and many have closed their doors or been incorporated into larger media companies. Technology has also played a massively disruptive force and shows no signs of abating. For example, the AP has used AI to free up approximately 20% of reporters’ time while increasing output tenfold. The Washington Post developed its own tool to cover sports and political news, generating 70 articles a month in its first year – without any staff assigned to those stories. Rapid change like this makes it challenging just to define the industry’s boundaries and players. It also makes the news a great industry in which to examine technological disruption and industry transformation. This course is not intended to train students in the practical aspects of journalism (e.g., assessing the news value of an event or developing a story). Its focus is on the business of the news industry domestically and globally. It covers the news from a business, financial, and leadership perspective.