1) The document discusses the challenges facing local journalism as large platforms like Facebook and Google have come to dominate digital advertising, taking revenue away from local media organizations. 2) It argues that local journalism needs to refocus on serving local communities by improving local coverage, engaging readers at the local level, and making decisions based on local needs rather than chasing scale. 3) The document provides recommendations for local media organizations to realign business metrics, goals, and practices around the local community through improved collaboration, data-driven insights, and community engagement.