This document discusses Edelman's approach to sponsored content and partnerships with news media. It acknowledges the long-standing relationship between PR and the press. It also notes that market changes like declining ad rates and the rise of ad tech have disrupted traditional business models and led marketers and media companies to embrace new formats like sponsored content, product placements, and naming rights agreements. The document outlines Edelman's framework for ethical sponsored content, including disclosing sponsorship, focusing on quality over replacing earned media, maintaining separation between paid and earned media work, and not engaging in quid pro quo discussions.