With newspapers cutting back and predictions of even worse times ahead, Rupert Murdoch said the profession may still have a bright future if it can shake free of reporters and editors who he said have forfeited the trust and loyalty of their readers.

“My summary of the way some of the established media has responded to the internet is this: it’s not newspapers that might become obsolete. It’s some of the editors, reporters, and proprietors who are forgetting a newspaper’s most precious asset: the bond with its readers,” said Murdoch, the chairman and chief executive officer of News Corp. He made his remarks as part of a lecture series sponsored by the Australian Broadcast Corporation.

Mr. Rather and his defenders are not alone,” he continued. “A recent American study reported that many editors and reporters simply do not trust their readers to make good decisions. Let’s be clear about what this means. This is a polite way of saying that these editors and reporters think their readers are too stupid to think for themselves.”

http://news.cnet.com/8301-10787_3-10098194-60.html

Perhaps it was the announcement that NBC News is coming out with a DVD titled “Yes We Can: The Barack Obama Story.” Or that ABC and USA Today are rushing out a book on the election. Or that HBO has snapped up a documentary on Obama’s campaign.

Perhaps it was the Newsweek commemorative issue—“Obama’s American Dream”—filled with so many iconic images and such stirring prose that it could have been campaign literature. Or the Time cover depicting Obama as FDR, complete with jaunty cigarette holder.

Are the media capable of merchandizing the moment, packaging a president-elect for profit? Yes, they are.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/16/AR2008111602374_pf.html

MSNBC which was accused of cheerleading for the Democratic nominee during the campaign, is running promos that say: “Barack Obama, America’s 44th president. Watch as a leader renews America’s promise.” What are viewers to make of that?

There is always a level of excitement when a new president is coming to town—new aides to profile, new policies to dissect, new family members to follow. But can anyone imagine this kind of media frenzy if John McCain had managed to win?

Obama’s days of walking on water won’t last indefinitely. His chroniclers will need a new story line. And sometime after Jan. 20, they will wade back into reality.