Analyzing media outlets from the inside allows to provide some guidelines on the best practices for media companies that want to shape/reshape their practices and business to survive and grow. The main questions are to understand how legacy media in Portugal are facing the changing media ecosystem, in special how are they using any kind of internal innovation strategies to outcome the decreasing of sales and/or audiences and advertising revenues. We also frame this national reality into a broader picture, contextualizing the analysis with the best international practices. So we pose the following questions: are the Portuguese media outlets seeking internal innovation to face and outcome the fall of traditional business models? How legacy media can change from the inside? What processes are they creating/recreating that affect the news production and dissemination? What processes are they creating/recreating that affect the revenue stream? How the Portuguese media ecosystem compares to the international best practices? What guidelines can be identified to help legacy media or journalistic startups to survive in a troubled sea? To achieve the objectives we used participatory observation on three Portuguese newsrooms, and interview some of its managers/editorial managers, so we can identify the focus on the practices, internal innovation strategies, and entrepreneurial strategies to change from the traditional business model and boost the financial results.

--