CBS controversy comes as network nightly news shows are losing clout

From the Wall Street Journal:

"For years, veterans of the news divisions at the traditional broadcast TV networks have grumbled about their eroding clout, eaten away by budget pressures, cable rivals and a general retreat from investigative stories and other ambitious undertakings.

CBS's recent admission that it botched a story challenging President Bush's National Guard service comes against this uncomfortable backdrop.

As the scandal plays out over the weeks to come, the embarrassment and possible damage to the credibility of CBS icons such as "60 Minutes" and anchor Dan Rather raise concerns that the network news divisions could be further marginalized. Within the large corporations that hold the pursestrings, incidents like these could make it harder for tradition-minded news executives to hold the line.

Softer news stories also are less risky. Already, there is concern by some observers that CBS's gaffe will cause other networks to think twice about pursuing high-stakes scoops.

"People in the network news organizations who are looking for a rationale to soften up have found it," says Todd Gitlin, a professor at the Graduate School of Journalism at Columbia University in New York. "They weren't taking too many risks even before this, and they will take even fewer now."