Along with business partner Richard Meeker, Zusman also owns alt-weekly newspapers in Santa Fe, New Mexico, the Santa Fe Reporter, and in the Triangle in North Carolina, the Independent Weekly (since renamed Indy Week). Zusman and Meeker acquired Willamette Week in 1982, and Zusman has been its editor since that time. In 2005, his paper became the first and only weekly newspaper to win the Pulitzer Prize for Investigative Reporting and the first newspaper to win a Pulitzer for a story that was first published on the Web. In 1986, Zusman was awarded the Gerald Loeb award for Business Journalism for an article he wrote about Nike. Zusman has been the president of the board of the Independent Media Institute, based in San Francisco. He was elected to the board of the Washington D.C.-based Association of Alternative Newsweeklies (now the Association of Alternative Newsmedia) in 2005 and later served as its president. He serves as a judge for the Payne Award for Ethics in Journalism. He taught journalism at the University of Oregon and has lectured at the Academy of Alternative Journalism at the Medill School of Journalism at Northwestern University and the Walter Cronkite School of Journalism and Mass Communication at Arizona State University. He is also a former fellow of the East-West Center. Zusman and Meeker are also the founders of MusicfestNW, now the third largest indoor music festival in the United States, which takes place in the fall and which was cited by Time Magazine as one of the "50 Authentic American Experiences of 2009". He is also the founder of Candidates Gone Wild, a series of election debates that include irreverent videos and candidate quizzes. In 2013, Zusman was inducted into the University of Oregon School of Journalism and Communication Hall of Achievement.
- Sorg, Lisa (August 22, 2012). "Steve Schewel announces sale of Independent Weekly". The Independent Weekly. Retrieved November 18, 2012.
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- "About the Payne Awards". University of Oregon. February 2012. Retrieved May 20, 2012.
- Tucker, Reed (July 13, 2009). "50 Authentic American Experiences in 2009: Oregon". Time Magazine. Retrieved July 24, 2011.