From Town Criers to Bloggers: How Will Journalism Survive the Internet Age?
It is not a legitimate function of government to promote or discourage anything. Journalism is thriving and will continue to do so, but probably not in its present form. As in any business, those who serve their customers well will attract more customers and more advertising revenue, while others will fail. This is the natural progress of things and it is good for the industry. The ideas being floated of taxing some to subsidize others will distort the market by propping up non-viable businesses and destroying the marginally sucessful. It is primarily a way for government officials, who control the taxation and subsidy, to obliquely censor the press by rewarding their political allies and punishing their enemies. The proper course of action is to not interfere where there is no problem (if it ain't broke don't fix it).