Technology changing business journalism

Technology threatens to replace traditional business news sources with independent Web sites and blogs, making news gathering more democratic but raising questions about the veracity of stories, Myron Kandel, founding editor of CNN Financial News, said Thursday, according to a story by Michael Diamond of the Asbury Park Press.

Kandel’s speech capped a Monmouth University symposium that looked both at the media’s role in covering business and how the media itself is at the center of a business story. The trend has left media companies scrambling to figure out how to reach their audience and be financially viable enough to pursue ambitious journalism.

Diamond wrote, “The panelists said the thirst for business news is larger than ever. And the pressure for them to produce accurate stories as quickly as they can is intense.

“Even at Fortune Magazine, which is published every two weeks, ‘it’s 24-7,’ [editor Andy] Serwer said. ‘When do you put the story up (on the Web)? As soon as you can. It better be accurate. It better have people reading it.’

“Some of what the panel discussed was an age-old debate. Does the media fairly cover companies and the economy? Why do they seemingly harp on the negative?”

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