The news industry today is no longer economically powerful: Newspapers are in peril, television and cable viewership are in decline, news deserts dot the landscape, and jaw-dropping numbers of journalistic staff cuts have drained expertise from newsrooms. Social media have cannibalized content and replaced scarcity of frequencies with scarcity of attention, and the news industry has far less political power.

Under these circumstances, the fate of the press’s functions is an existential question both for the news media as we know it and for contemporary American democracy. Managing the complexity of this kind of information environment calls for independent and principled engagement with issues of public concern by those who hew to journalistic values, such as truth, verification, completeness, investigation, and context. It also calls for appropriate legal protections.

In this chapter, I seek to explore the evolving mosaic of threats facing the American press and consider what, if any, legal “rights” wielders of the press function need in response. I begin by identifying a set of key threats facing the press – from economic, legal, technological, and audience-based developments. I then propose some initial responses to these threats along five dimensions: funding conditions, a mixed legal strategy, AI policy, industry restructuring, and trust enhancement. I also call for a commitment to press self-examination from the vantage point of fundamental journalistic values in a democracy.