Loyalty to the citizens, and loyalty to the shareholders are both extremely important in good journalism.  Journalism is, at it’s core, the process by which  news is researched, organized and relayed to the public.   It is the communication of information to people all over the world.  Its purpose is to inform, educate, and challenge people for their own individual benefit, for the benefit of society as a whole.  Journalism acts as a mediator between organizations and institutions in society, and the people that they serve.  Government, businesses, churches etc. all use journalism to communicate to the people that make up society.  Journalism can both promote and praise these institutions, or it can challenge or criticize them.  Either way, journalism provides valuable information, information which influences the behavior and beliefs of many people.  Because of these factors, it is undeniably necessary for journalists to put the people first over anything else.  Journalists must have a desire to be the positive, honest force behind the media, the force that seeks to assist, enlighten and educate people.  Journalists have to work to better society by relaying accurate, honest, and true information to the individual.

On the other hand, journalists also have a responsibility to their shareholders.  Journalism can only exist with financial support.  Journalism is, after all, a business, just like any other, and therefore, has monetary requirements that it must fulfill.  Shareholders provide journalists with the tools that they need in order to be able to perform their job.  Without shareholders, journalism simply would not exist.  Therefore, it is important that journalists satisfy the needs and demands of those shareholders so that they can continue to receive funding.  At times, this may mean sacrificing that needs of the public.  It may mean going against the loyalty and responsibility journalists have to the citizens.

Achieving a balance between the two is obviously the best option.  Placating the shareholders as much as possible to preserve the business of journalism, while still striving to present true and useful information to the public is what a good journalist strives to do.