PUNISHMENT OF THE PRESS FOR PUBLICATION OF LEAKED INFORMATION MAY BE ACCOMPLISHED EITHER BY FEDERAL PROECUTION UNDER THE ESPIONAGE STATUTES, WHICH EXPRESSLY INFORMATION, OR BY PROSECUTION FOR THEFT ON THE THEORY THAT INFORMATION IS PROPERTY. ANALYSIS OF THE APPLICABLE FEDERAL LAW FOCUSES ON CURRENT PROVISIONS AS WELL AS PENDING LEGISLATION AND THE LIKELY NATURE OF FUTURE CHANGES IN THE LAW. THE DISCUSSION OF SUBSEQUENT PUNISHMENT IN THE STATES DEALS LARGELY WITH THE 1973 CALIFORNIA CASE OF PEOPLE V. KUNKIN, WHICH INVOLVED THE PROSECUTION OF A NEWSPAPER EDITOR AND REPORTER FOR RECEIPT OF STOLEN PROPERTY. FINALLY, THE REACTION OF THE PRESS TO KUNKIN IS DISCUSSD TO ASSESS THE PROBABLE EFFECT OF SUCH PROSECUTIONS ON THE PUBLICATION OF INFORMATION OF CRUCIAL PUBLIC INTEREST. (AUTHOR ABSTRACT)