STATE OF THE NEWS MEDIA: "Shrinking reporting power"

WASHINGTON, D.C.:  "A continued erosion of news reporting resources" is the headline from the new report on the State of the News Media from the Pew Research Center's Project for Excellence in Journalism. 

Personnel and content cutbacks are coming in tandem, the report says.  CNN's produced story packages have been cut by nearly half in five years in favor of interview segments, which are cheaper to produce.  In the newspaper industry, the number of full-time professionals in the US dipped below 40,000 for the first time in 35 years.  And on the news magazine front, Time is the only major print newsweekly left standing.