The report's authors, former Washington Post executive editor Len Downie and Columbia journalism professor Michael Schudson, propose incentives for governments, companies, donors and organizations.
"American journalism is at a transformational moment, in which the era of dominant newspapers and influential network news divisions is rapidly giving way to one in which the gathering and distribution of news is more widely dispersed," the nearly 100-page report says.
Among its ideas:
1. Tax changes to confer non-profit status on a variety of organizations devoted principally to local journalism.
2. Encouragement of philanthropic activity to support news entities that produce accountability and public affairs journalism.
3. Reconfiguration of public broadcasting to more aggressively cover the local condition.
4. Creation of stronger local news operations and mid-career training institutes at universities and colleges through their journalism programs.
5. Creation of a local news fund through revenues on cable, Internet and other technologies.
6. Greater access to public data and greater encouragement of public contributions to journalism.