State of the Media report bleakest ever

As one might expect, this year’s annual State of the Media report produced by The Center for Excellence in Journalism makes for dismal reading. The most frightening problem highlighted by the report, however, is not the devastating financial havoc being wreaked on the traditional news media industry, it’s the lack of vision as to what to do about it:

“There are growing doubts within the business, indeed, about whether the generation in charge has the vision and the boldness to reinvent the industry. It is unclear, say some, who the innovative leaders are, and a good many well-known figures have left the business. Reinvention does not usually come from managers prudently charting course. It tends to come from risk takers trying the unreasonable, seeing what others cannot, imagining what is not there and creating it. We did not see much of it when times were better. Times are harder now.”