The Prime Minister told an audience in Manchester: “A free press is one of the foundations on which our democracy is built, and it must be preserved.”
The review will include the role and distribution of online advertising revenue and it will explore what the Government or media industry can do to give the UK’s national and local press a sustainable future.
Mrs May said: “Good quality journalism provides us with the information and analysis we need to inform our viewpoints and conduct a genuine discussion.”
The Prime Minister continued: “It is a huge force for good.
“But in recent years, especially in local journalism, we’ve seen falling circulations, a hollowing-out of local newsrooms and fears for the future sustainability of high-quality journalism.”
Highlighting that more than 200 local papers have closed since 2005, she warned: “This is dangerous for our democracy.
“When trusted and credible news sources decline, we can become vulnerable to news which is untrustworthy.”