The Press: The Squeeze

Until now, about the closest contact many journalists have had with the recession was reporting what it did to other Americans. That vicarious experience is acquiring an edge of reality. Rising costs and shrinking revenues have begun to alter employment, format and, to a lesser extent, the quality of coverage at the nation's newspapers, magazines and broadcast stations.

The news industry's new recession is still relatively mild. Advertising revenues generally were up about 5% last year. But costs soared, newspaper circulation dropped slightly, and classified-ad linage fell by as much as 25% at...

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