And more importantly, who is teaching it. I check out JournalismJobs.com periodically just to see if my dream job is available. I don't usually click on the teaching jobs, because I don't have a M.A. and don't much care to get one -- let alone a Ph.D. Honestly, advanced degrees aren't very useful in the journalism unless you're specifically angling for a teaching job.

Having said that, this posting for an associate journalism professor at Ohio Wesleyan University may be indicative of problems with j-school graduates.

Qualifications: M.A. required, Ph.D. preferred; at least one year of professional experience as a newspaper, magazine or broadcast reporter required; college-level teaching preferred. The successful candidate must also be familiar with InDesign software by the start of the school year. [emphasis added]

One year? One?

Maybe it was a misprint and they meant one decade.