The media landscape in America these days looks like it's been hit by an earthquake. Indeed, the shifting tectonic plates of media have left legacy print and broadcast outlets in crisis – cutting columns, staff, and even entire bureaus. International reporting has been acutely impacted amid all this disruption. But the picture isn't entirely one of destruction and despair: emerging and digital-native media companies are successfully cultivating a talented generation of new reporters and investing in extraordinary storytelling. In some places, there's even positive revenue growth.

In a society where 39 of the top 50 digital news websites have the most traffic coming from cell phones and tablets, have we reached a new mobile majority in media? Are the tried models of advertising and circulation targets enough to sustain media's print gatekeepers? What will be the new business models that sustain great journalism?

Whether it's legacy or digital media, the reality remains: the state of journalism has reached a critical point of transition and transformation. Much is at stake. Americans' changing news habits impact how our country functions as an informed society, and the next steps in media are as important as ever in shaping the future of our democracy.