http://worldcat.org/entity/work/id/2600185525

Making news : the political economy of journalism in Britain and America from the Glorious Revolution to the Internet

This book charts the rise and fall of the newspaper as the primary medium for the conveyance of news. The book focuses on two of the most influential media markets in the modern world-Great Britain and the United States between 1688 and 1995. In 1688, Parliament created institutional arrangements that would hasten the rise of the newspaper as the dominant medium for the circulation of news. In 1995, the National Science Foundation commercialized the Internet, encouraging an astonishing proliferation of information on all manner of topics, including the news. Per capita newspaper circulation had been declining for decades, partly due to shifting social norms, and partly due to the rise of broadcast news. The Internet exacerbated this trend, partly because it provided a cheaper news source, and partly because it quickly became a superior vehicle for advertising, a major source of revenue for newspaper publishers for over two-hundred-years. However, only rarely has advertising revenue and direct sales covered costs. Almost never has the demand for news generated the revenue necessary for its supply.

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