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Facing the challenge of new media technology and the general crisis of media economy, the traditional press is experiencing a hard time. In particular, credibility, by which news media claims legitimacy and authority in the society, suffers. Through a comprehensive study of six Chinese press groups and over 90 in-depth interviews with journalists and media managers, this paper reports the findings of how credibility is used as a marketing tool for the media organizations to survive the current economic crisis. It is found that the media organizations tend to exploit the market potential of media credibility in three main ways: the reconfiguration of the organizational structure, the development of public relations activities as a new income source, and redefinition of journalists’ role. By these means, media begin to negotiate a new relationship with society, and the traditional norms of journalism are subject to challenge and change.