The painful reductions in the size of local newsrooms have not been a consequence of consumer backlash over political ideology or a lack of reader interest in news content. The driving force has been dwindling revenues for media companies on digital platforms controlled by monopolies like Google and Meta.
If you missed the news of this, you are not alone. It was rolled out via news release, virtually drowned out by the Democratic National Convention, which many key California state and legislative leaders were attending in Chicago.
The agreement, which calls for $242.5 million to be distributed to California newsrooms over five years, is better than nothing. The funds will provide a boost to local journalism in the state.
For now, Google - with its $237 billion in 2023 ad revenues - will not be forced to fairly compensate news organizations for the content that they produce. In Canada, Google pays news outlets $100 million a year (Canadian) but under a new deal announced Aug. 21, Google will contribute a fraction of that to local journalism in California.
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