In every advanced culture, there exists some kind of understanding between a profession and the people it serves. In the case of mass communication, such an understanding is for the most part an informal compact whose terms are understood more or less tacitly. As the terms of this agreement are renegotiated from time to time--disagreements recognized, issues aired, disputes resolved--leaders involved in implementing this compact between the mass media and the public make a continuing effort to articulate effectively their understanding of the compact. This dynamic dialogue concerning media-public interrelationships seems to have four aspects: (1) attempts of the media to define their responsibilities to the public, (2) society's attempt to define the media's responsibilities to the public, (3) attempts by the media to define the public's responsibilities to the media, and (4) society's attempt to define the public's responsibilities to the media. This concept of journalistic covenant and its four aspects offers new approaches to research on the mass media, to perspectives of teaching journalism at the university level, and to the successful integration of instruction in communication law and ethics. (RL)