Kerry, who chairs the Senate committee on communications, technology and the internet, is to hold the hearings from May 6.
The Democratic senator for Massachusets was spurred into action by the predicament facing a key newspaper in his state capital, the Boston Globe.
Earlier this month the New York Times Company threatened to close down the Globe unless unions agreed to a programme to cut the paper's costs by $20m (£13.7m).
The group said the paper must achieve the savings -- which staff described as "draconian" and would come at the cost of jobs, pay and benefits -- or face closure within 30 days.
Kerry responded by penning a letter last week to Globe employees, but not to the paper's management.
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Kerry stressed his commitment to the industry and to ensuring that the "vital public service newspapers provide does not disappear".
In the letter (sent to "the Boston Globe family"), Kerry said: "America's newspapers are struggling to survive and while there will be serious consequences in terms of the lives and financial security of the employees involved, including hundreds at the Globe, there will also be serious consequences for our democracy, where diversity of opinion and strong debate are paramount."
He also said that that the growing dominance of media conglomerates threatened a diverse media: "If those of us who value a diversity of opinion and ideas, and are unafraid to be confronted with pointed commentary and analysis, do not act, it is a situation which will only get worse."
American newspapers have been hit hard by plummeting revenues through the advertising downturn and by the migration of readers from print to online.
Earlier this month, staff at the Globe were given details of the proposed pay and benefit cuts and reduced job security, according to a report in The New York Times.
Daniel Totten, president of the union representing 700 Globe staff, said the demands were outrageous: "We're willing to consider some concessions but not the draconian amount they put forth."
In recent months, other newspaper casualties have included , which has abandoned print for a and been forced to cut jobs, while the Sun-Times Media Group, which owns the Chicago Sun-Times, last month filed for bankruptcy protection.
Kerry's announcement of the Senate committee hearings follows another attempt by Washington to come to the aid of the newspaper industry.
Last month, Democratic senator Benjamin Cardin introduced a bill to allow media companies to restructure as not-for-profit organisations and receive tax breaks.
As the Democrats' presidential candidate in 2004, Kerry failed to oust George W Bush from the White House.
In the UK struggling regional newspaper groups have been lobbying the Government in a bid to prevent more titles closing down.