According to civilrights.org:
The review was conducted by the Project for Excellence in Journalism, an institute affiliated with the Columbia University Graduate School of Journalism and financed by the Pew Charitable Trusts.
As part of the review, a special study looked at how a variety of outlets, including newspapers, television, radio and the Internet, covered a single day's worth of news and concluded that there was enormous repetition and amplification of just two dozen stories. Moreover, it said, "the incremental and even ephemeral nature of what the media define as news is striking." [my emphasis]
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