Here’s an interesting graphic showing the transition from print to online media.

What generates concern, however, is that online news outlets are rarely backed up by significant new gathering organizations or operations capable of conducting journalistic investigations. They have tended to rely on the news gathering operations of print newspapers, the news syndicates and major media. d
Now ABC News has announced major cuts in its newsroom.

ABC News will sharply reduce its news-gathering staff through buyouts and possible layoffs, the company said on Tuesday. ABC employees said they expected the cutbacks would affect 300 to 400 people, or roughly 25 percent of the news division’s work force.
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In a memorandum to staff members, the ABC News president David Westin called the cutbacks a “fundamental transformation” for the division that would result in a leaner, smaller organization. “The time has come to rethink how we do what we are doing,” he wrote.

Let’s hope this isn’t a harbinger of things to come.