From the story:
Kicked out, bought out or barely hanging on, investigative reporters are a vanishing species in the forests of dead tree media and missing in action on Action News. I-Teams are shrinking or, more often, disappearing altogether. Assigned to cover multiple beats, multitasking backpacking reporters no longer have time to sniff out hidden stories, much less write them. In Washington, bureaus that once did probes have shrunk, closed and consolidated.(via Romenesko)
The membership of Investigative Reporters and Editors fell more than 30 percent, from 5,391 in 2003, to a 10-year low of 3,695 in 2009. (After a vigorous membership drive, this year the number climbed above 4,000.) Prize-seekers take note: Applications for Pulitzers are down more than 40 percent in some investigative categories, a drop reflected in other competitions.
"There is no question that there are fewer investigative reporters in the U.S. today than there were a few years ago, mirroring the overall loss of journalists at traditional media outlets," says IRE Executive Director Mark Horvit. While he concedes that the situation is alarming, Horvit points to positive developments. New organizations dedicated to investigative and watchdog coverage have sprung up, and some mainstream news outlets are renewing a commitment that had been lost.