The real question is whether or not newspapers are willing to make these changes to get out of the recession they currently find themselves in. In his article, “Financing the American Newspaper in the Twenty-First Century,” Richard Schmalbeck outlines the ways in which newspaper companies can change for the greater good, however the problem is that media companies don't realize what the real problem is . “Since the central problem is financial in nature – there being no shortage of talented people wishing to pursue careers in journalism – the solutions presumably must come in the form of new financial structures” (Schmalbeck 251). As Schmalbeck describes in his article, the problem is that most newspapers are unwilling to change their financial structure for the good of the industry. Most newspapers operate under a corporate structure that prevents the industry from moving forward. While the framework has been successful in the past, the various changes the industry has faced have made it obsolete and unsuccessful. Reliance on ownership to survive the economic struggles currently present in the industry can be catastrophic. There will be a time when the current structure under which most newspapers work could result in an even more catastrophic collapse
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