From Reuters.com

How will journalism survive the Internet Age?

Chris Ahearn is President, Media at Thomson Reuters. The following is the text of remarks prepared for the Federal Trade Commission’s workshop on how the Internet has affected journalism.

Good afternoon. As I only have a couple of minutes, let me get straight to the point.

First, journalism is not synonymous with newspapers and today the discussion has focused too much on newspapers alone. Second, journalism will do more than survive the Internet Age, it will thrive. It will thrive as creators and publishers embrace the collaborative power of new technologies, retool production and distribution strategies and we stop trying to do everything ourselves.

I agree with Mr. Murdoch that the bold will survive and the timid will fail. However, the newfangled aggregators/curators and the dominant search engines are certainly not the enemy of journalism. Nor are they the salvation. They do not always refrain from doing evil in their pursuit of profit and audience. And they do fail to “do unto others” at times -– some do steal and use complete or near-complete copies of our and other work and use ad networks such as AdSense to unlawfully monetize without sharing.

That said, most are a constructive and competitive part of the news ecosystem, I welcome them and I continue to believe and support the link economy.

At Thomson Reuters, I am lucky to oversee the business of both the world’s most indispensible news agency as well as our innovative publishing arm, Reuters.com. Thus, I see the challenges and opportunities from both sides of the aisle. Many of you in this room are clients of ours (or should be) and some of you are our competitors. Perhaps different from those who wish they could roll back the clock, we prefer to lean into the winds of change.

Like many we grapple with the coverage, cost and value issues of content scarcity vs. abundance as well as content uniqueness vs. utility. We choose to maximize the value of each of these four quadrants and have adaptive business models and markets which allow us to. For example, we focus principally on the importance of vertical and niche markets that have subscription-oriented models — this where our firm derives the vast majority of its revenues. We focus obsessively on the needs of professionals in those markets we serve. We don’t want to be all things to all people. We want to create journalism that has unique value to our clients, and partner with creators as warranted and needed. Most importantly, we focus on creating and providing valuable services — not just content.

The day ahead: Friday

JC Penney reports quarterly results, with investors primed for the department store operator to beat estimates as its rivals Macy’s and Kohl’s did earlier in the week.

Other highlights:

*  Barack Obama makes his first trip to Asia as president, leaving behind a host of domestic problems on a visit that recognizes the region’s economic and diplomatic importance to the United States.

*  Google and a group representing authors and publishers face a Friday Department of Justice-set deadline to submit a revised agreement over modifications to a controversial electronic books licensing deal.

*  Initial public offerings from Dollar General, a leading discount chain owned by KKR, and rue21, a fast growth youth apparel chain owned by Apax Partners, begin trading on the NYSE.

*  On the economic front, expect international trade data and a preliminary reading on the November Reuters/University of Michigan sentiment index.

The day ahead: Thursday

Extending its dominance of Wall Street, Goldman Sachs is expected to report that its profit more than doubled in the third quarter.

*  The market is looking at IBM for signs of improvement in corporate technology spending and comments on the company’s M&A strategy.

*  Google’s earnings are expected to show that the worst of the advertising slump has passed, and that the search engine is seeing a recovery in demand from advertisers.

*  Results are also expected from Citigroup, Harley-Davidson and Advanced Micro Devices.

*  Consumer prices for September in the U.S. are expected to have risen 0.2 percent from August.

The day ahead: Wednesday

Investors will eye Google and Apple as they display their wares and await  the possible return of Apple’s master showman CEO Steve Jobs at a media event.

*  Google is set to brief investors in a Webcast about search and monetization. While the company made its fortune on Internet search ads, Wall Street is increasingly eager for signs that the company’s other money-making bets will pay off.

*  Apple’s annual September gathering may or may not feature master showman CEO Steve Jobs. While revamped iPods are again on tap this year, much of the focus is stuck on whether Jobs will make his first public appearance since taking medical leave in January.

*  Shops start selling of “The Beatles: Rock Band”, one of the most highly anticipated new video games this year.

*  At the second day of the Reuters Global Climate and Alternative Energy Summit the agenda includes discussions with Brazil Environment Minister Carlos Minc, New Zealand Climate Change Minister Nick Smith, Keizai Doyukai Chairman Masamitsu Sakurai, Royal Society President Martin Rees and  Google Green Energy Czar Bill Weihl.