Chequebook journalism (American English: checkbook journalism) is the controversial practice of news reporters paying sources for their information. In the U.S. it is generally considered unethical, with most mainstream newspapers and news shows having a policy forbidding it. In contrast, tabloid newspapers and tabloid television shows, which rely more on sensationalism, regularly engage in the practice. In Britain and throughout Europe, journalists paying for news is fairly common.
Among the reasons cited for why it is unethical to pay a source, one is that it can easily affect the credibility of the information the source provides. Since paying a source creates a legal business relationship, it can also affect a journalist's ability to remain objective. The payments are typically for exclusive rights to publish personal information or obtain an interview, which for some news events, leads to bidding wars among the media for access. It also creates a potential conflict of interest by the publisher, whose neutrality should always be protected. Or it may give the source an incentive to embellish or exaggerate, and even fabricate details, since part of the bargain with the reporter is to provide them interesting and valuable information.
In the past, chequebook journalism became an issue after certain news events regarding celebrities and politicians, as they earn the publication substantial income. The promise of high profits makes them more willing to pay for information. Past examples include stories about Michael Jackson, Bill Clinton, O. J. Simpson, Princess Diana, and Richard Nixon, where sources were sometimes paid millions of dollars for interviews. Defenders of the practice consider news information to be a commodity, which a source has a right to sell to a reporter for the highest price, in the same way the publication sells its news to the public. When payments to a source became disclosed to the public, however, it has even undermined court cases, as when witnesses admitted they had been paid for providing confidential information to the press about the case.
Some hazards of chequebook journalism have become more common, as the practice has made celebrities and politicians a lucrative target for tabloids, and a form of public voyeurism which attracts viewers. In situations where a source has been paid for making unproven allegations against a public figure, the mere publication of a story about it has damaged numerous careers, regardless of whether the alleged offense actually took place. A number of well-known journalists, such as Walter Cronkite, have suggested forcing disclosure of any payments to be part of the news story.