Stanford University has announced some changes to its Knight Fellowship program. Per the release:

Beginning with the 2009-10 fellowship year, the program will put a new emphasis on journalistic innovation, entrepreneurship and leadership.

The program is transforming itself in order to serve the needs of journalism and journalists as much in the years ahead as it has in the past. The dizzying landscape of layoffs and consolidation, Internet media sites, citizen journalism and bloggers make journalism a chaotic and exciting proposition today. We are making bold changes to meet these new realities.