Guest Commentary: The Imperative to Reinvigorate Local TV News and Civic Engagement

Soo Kim Standard General
Standard General founding partner Soo Kim (Image credit: Standard General)

The way Americans get their news has undergone a revolution in the past two decades. This transition is not slowing; it is accelerating, with significant implications for civic engagement and public discourse. At the local level, hundreds of daily and weekly newspapers have vanished, decimated by a media ecosystem that has migrated from print to online. The void created by the challenges to print publications, however, has created a huge opportunity for local television stations to be relevant to the daily lives of Americans by bringing them not only the news of the day but also buttressing the accountability of public and private institutions.

Since 2004, an astonishing 1,800 newspapers have shuttered, including more than 60 dailies and 1,700 weeklies, according to the Hussman School of Journalism and Media at the University of North Carolina. The number of print readers has declined even more precipitously, as publishers shrink their publications and scale back on distribution, particularly in rural areas. 

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The relentless decline of local print media does not mean people no longer want news. They continue to care about local weather, traffic, and sports of course. News consumers remain focused on how local officials are spending their tax dollars, along with zoning, development, regulatory issues and shifts in the cultural and political environment. Video news is more essential than ever. The question is how to deliver this information.  That is where local broadcast news comes into play, filling a vital vacuum in communities and cities across the United States. 

The relentless decline of local print media does not mean people no longer want news.”

— Soo Kim, Standard General

In 2011, the Federal Communications Commission issued a report that essentially called on broadcast media to fill the void left by the hollowing out of local print journalism. As newspapers struggle to stay in publication, many local TV stations have found success by delivering quality local news and other content. By 2017, local and regional television stations were employing more journalists than newspapers

There is an essential convergence between the need for robust and probing journalism in America today and the role that local television can play in helping to achieve this goal.

Strengthening American democracy nationally depends on more engaged and informed citizens at the local level. Too often, digital media, including digital editions of local newspapers, simply aggregate wire service stories and deploy editorial content which reflects the polarizing national political debates we see on cable news and on social media platforms. Moreover, misinformation runs rampant on social platforms, often leaving both objectivity and accuracy on the cutting room floor. The bottom line: In today’s media environment, there are fewer credible options for consumers to turn to for their news.

Broadcast Can Lead a Resurgence

Local broadcast news can fill this void, and lead the way toward a resurgence of independent American journalism. Many important local policy matters dealing with education, transportation, and public works are not inherently partisan. Honest reporting can be the catalyst for restoring trust among citizens and enable more responsive and effective governance.

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I believe in the power, value, and purpose of local news. In February, Standard General announced its purchase of Tegna, which currently owns stations across 51 media markets. The new company will be a leader in preserving and enhancing community news, investing in newsrooms and programming targeted to local audiences, and adapting in a rapidly changing technical and competitive environment. We have made good on our commitments before, making significant capital contributions in our previous local broadcasting investments that spanned over 70 stations at Young Broadcasting, LIN Media and Media General, and currently Community News Media. Local management makes stations more responsive to the communities they serve, as does understanding the nuances of each market to determine what is uniquely needed to chart the best path to each station’s growth.

As local newspapers disappear, the lack of reliable information poses a risk to our already fragile civic life. Local television stations, bolstered by investments in technology, people, and substantive reporting on issues that matter to consumers represent possible green shoots in news deserts across the country. 

The future of an informed electorate and engaged communities is paved by investment in and commitments to diverse, local journalism. ■

Soo Kim

Soo Kim is the founding partner of Standard General, a New York-based investment firm, and serves as the firm’s managing partner and chief investment officer.