Douglas McIntyre, the editor of 24/7 Wall Street, writes on BloggingStocks.com about how he foresees the future of business journalists who have lost their jobs due to downsizing.
“What happens to these people?. They will not find jobs in the traditional media, but there is a model in the newspaper industry that may given them some hope. In many cities where dailies are struggling to survive and layoffs are plentiful, out-of-work writers are banding together to start websites to compete with the local press. Setting up these websites is cheap. The reporters already know their subjects as well as anyone else. They only need very modest ad revenue to do relatively well.
“Business reporters may go the same route. Look for a lot of new, smaller financial websites to open staffed by laid off writers and watch them give the traditional press a run for its money.”
Read more here.
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The era of Print is ultimately at the end of a once great era. You will see online media replace most of these. The youner generation rarely reads a printed article or resource such as a phone book. Search engines and online information has started to replace these resources and will continue into the future. Conventional Journalism will re-invent into a new media source online.