The rapid shrinking of news outlets in recent years due to hedge fund acquisitions, a worldwide pandemic, and the age of digital media has left many journalists wondering if they still have a career.
The U.S. Bureau of Labor Statistics projects journalism jobs to drop by 11% or 10,000 jobs in the next decade. Deputy Director of Early Career Programs at The New York Times Carla Correa remembers when The Baltimore Sun had fifty reporters at the features desk as opposed to today’s four.
Vanity Fair reported that Alden Global Capital, a New York-based fund management company, has been increasing its shares to become the primary shareholder in newspapers across America before decimating the newsroom staff in the name of profit. Alden cancelled the already accepted positions of four summer interns within mere weeks of seizing full acquisition of New York Daily News.
“At least three others and I had plans to intern for the Daily News this summer,” Josephine Stratman said in a tweet. “I feel disappointed, frustrated, mad, robbed of an invaluable learning opportunity and taught a lesson I didn’t ask for. It’s hard to start a career in journalism during Covid. This makes it harder.”
Vice President for News Performance, Talent, and Partnerships for Gannett & USA Today Mizell Stewart III has been through six asset sales, mergers, and acquisitions since 2005. Stewart said newspapers are in a massive period of consolidation, primarily in the local sector. “There are some changes that you have control over, and there are some changes that you don’t have control over,” Stewart said.
Journalists have more to worry about than company takeovers. “I work in the business formerly known as newspapers,” Stewart said. “We’ve been behind on the journey of digital media for roughly 25 years.”
When asked if she had a physical subscription to the paper she works for, Correa admitted she read her news digitally. “I will say I had a few things in the paper the past two weeks, and I would go online and get the PDFs of the files,” Correa said.
Newspapers are evolving to stay relevant. The New York Times now has 8 million paid subscribers to its online content. “We’re invested in digital,” Correa said.
Journalists need to learn digital skills if they don’t already have them. “Managing your career is all about playing offense,” Stewart said. “You’re constantly trying to build upon your skills. Your learning does not end after school.”
gianna gronowski 
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