This FCC report represents a comprehensive overview of the state of journalism in 2011. It covers extensively the myriad challenges facing journalists in a period of rapid transition for an industry that has been irrevocably changed by the rise of internet. While the internet has expanded access to content, it has also altered the traditional revenue model that supported print journalism. With declining revenues from advertising and subscriptions, newspapers across the U.S. have been downsizing, leading to cuts in investigative journalism, or accountability journalism as its described in the report.

Whether hyperlocals and online outlets can fill this void remains to be seen. For now, flip through the vivid graphs in the report to gain a greater appreciation for the transformation of the journalism ecosystem.