Struggling media will need government help: US congressman

[The Northerner]

Source: France24

AFP - The newspaper industry is suffering "market failure" and the government will need to help preserve serious journalism essential to democracy, an influential US congressman said Wednesday.

"The newspapers my generation has taken for granted are facing a structural threat to the business model that has sustained them," said Representative Henry Waxman, a Democrat from California.

"The loss of revenue has spurred a vicious cycle with thousands of journalists losing their jobs," he told a meeting on journalism in the Internet age hosted by the Federal Trade Commission (FTC).

Waxman, who chairs the House Committee on Energy and Commerce, which has jurisdiction over the FTC, said the "depression in the media sector is not cyclical, it is structural."

Read more: http://www.france24.com/en/node/4939034

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I respect Waxman highly although I don't know about this.