This document discusses the need for radical, mega-level changes across the entire media system and industry to address the current existential threats and crisis facing news media. It asserts that ROI (return on investment) of news is real and measurable, but that the decimation of legacy media has reduced their revenue, readership, and number of journalists by over 60%. To survive, the document argues the media needs transformations at both the mega and macro levels across areas like revenue sources, content practices, audience engagement, distribution channels, personnel, legal frameworks, and technology usage.