The Financial Times, in collaboration with the Knight Foundation, has released a report titled 'The Local Journalism Guide: Finding Value for a Sustainable Future', aimed at aiding local journalism in navigating its current existential crises. The report is not just a study but rather a strategic manifesto designed for leaders of local media organizations worldwide. Its significance lies in the accumulated expertise of the Financial Times in digital transformation, offering tools to small and medium-sized publishers that have helped major global entities avoid financial and technological collapse.

Highlighting the crucial role of local journalism as the 'backbone of democracy', the report emphasizes that its absence leads to a deterioration of public trust. Thus, seeking a sustainable business model for local journalism is framed as a national necessity rather than merely a commercial interest. The Financial Times states that the report draws on interviews with leaders of global media organizations and surveys involving local news institutions across nine countries, consolidating a wealth of insight into how local journalism can evolve effectively in the face of adversity.

The implications of this report extend beyond the creative industry to touch on the democratic fabric of society. By addressing the challenges of local journalism head-on, the Financial Times is advocating for a new vision that prioritizes local news as an essential service, not just a business. This perspective urges stakeholders at all levels—publishers, governments, and communities—to recognize their roles in supporting and sustaining local journalism, thereby reinforcing democratic integrity and community engagement.