Biz reporting lab shows traditional models aren’t dead, just evolving

Mike Scutari of Inside Philanthropy examines plans by the Cronkite School of Journalism to open a business reporting lab thanks to a $1 million grant from the Donald W. Reynolds Foundation.

Scutari writes, “Secondly, the program will serve as an incubator for aspiring journalist-students. For example, Cronkite is seeking a business journalist to serve as the director of the bureau who will work with top journalism students across the country. The grant will fund four students’ participation in this effort.

“The Reynolds Foundation has committed more than $115 million nationwide through its journalism program, so it’s inevitable that we would compare this development with recent work by other big names in the journalism philanthropy field, like the Knight Foundation.

“As we’ve previously noted, Knight is aiming for nothing less than a total reinvention of journalism. It’s Challenge Fund for Innovation in Journalism Education calls for a paradigm shift whereby students, professionals, and professors work together under a ‘teaching hospital’ model. Knight is also embracing ‘hacker-journalists’ and ‘open source’ news gathering. Their approach is disruptive, bold, and highly collaborative.

“The Cronkite business reporting program, while innovative in its own right, nonetheless suggests that more traditional models of news gathering aren’t dead, but merely evolving. Programs like the one founded by the Reynolds Foundation focus on specific elements of journalism — business reporting for instance — rather than a broader, all-inclusive approach. They embrace hierarchical models by pulling in experts to work closely with students. And they’re molding these students for long-term career in journalism.”

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