Speaking at the Daily Press in Virginia, Tribune Co. chairman and CEO Sam Zell said that "I believe that newspapers, in fact, have a great future,” but he also insisted on the need for rapid change for newspapers.

Interestingly, Zell also explained that Tribune’s smaller newspapers, including the Daily Press, would serve as “petri dishes” of innovation, where new ideas could be experimented with.

Zell also said that the company would reward individuals who came up with new ideas, a sensible approach for an industry that long remained fixed on its traditional way of working.

"I believe that newspapers, in fact, have a great future, and 25 or 30 years from now, the newspapers that adapt and take a position that create a future for them will survive, and those that keep operating under the old thesis that 'Well, this is the way we always did it' aren't going to survive," he said.

As for changes in editorial content, Zell mentioned that journalists should focus on what readers want. "If we don't have the revenue and we don't have the readers, it really doesn't matter what you write," he said. That makes perfect sense, but overemphasizing reader-driven content also carries its share of risks for quality journalism.

Source: Daily Press