By Jill Carroll
A paper by Jill Carroll, fall 2006 fellow, argues that media companies that cut back on foreign bureaus and correspondents are making a financial miscalculation and missing an opportunity to capitalize on an undervalued asset. High-quality foreign news coverage is in demand by readers and viewers, particularly by middle-aged, upper income consumers – an attractive audience for many high-end advertisers. At the same time there was a general increase in demand for foreign news after the 9/11 attacks. Cutting quality foreign reporting will only further weaken the ability of news organizations to turn a profit, and undercut the credibility of a serious, major media outlet.