Creative Commons

In the information-rich and data-driven cities of our age, there has never been a greater need for "authentic" and "reliable" news sources. Nielsen, Cornia and Kalogeropoulos (2016, pp. 7) claimed that “a well–functioning democracy requires free and diverse news media capable of keeping people informed, holding powerful actors to account, and enabling public discussion of public affairs”. However, with the emergence of the digital era, several problems emerged for traditional news media organisations. Across the World, news media outlets of every scale, especially newspapers, are constantly experiencing declining credibility, declining readership, and a loss of advertising. At the same time, new media organisations were born out of the digital era. Focusing on innovation and adopting a web-based business model, they have overcome the sector's declining entry barriers and have forever changed the news media industry. The search for a sustainable economic model capable of supporting news media activities in the digital age remains elusive. The executives of news media organisations are continually facing an important strategic challenge, first to identify and then develop a proper business model and a strategy that will combine print and digital and help their firms grow. In the following dissertation, I will try to provide some answers to the question of how traditional news media organisations can successfully transform, survive and evolve in the modern digital age. In addition, how they can reorient their competitive strategy to rebuild their reach/value, maximize profits and to develop products, services, and an identity that better fulfills customer’s needs. Moreover, the dissertation will be more focused on the local and regional media for two reasons. First, the idea that they need to sustain themselves as the primary "information artery" flowing into communities is more timely than ever. It provides a fascinating way of thinking in the transformation - ii - process of their future. Secondly, according to the latest research, they are the most respected in public opinion. Primary research for the thesis has been carried out by an online survey addressed to the owners and the managers of local and regional news media organisations all over Greece, in order to gather information about how they are trying to adjust their firms to the digital era, the results of their actions and their future thoughts.