#billionaire-owners

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Common Dreams
3 months ago
Media industry

Billionaire Benevolence Cannot Save Journalism-Here's What Can

The Los Angeles Times recently laid off over 20% of its newsroom, disappointing employees and readers who expected billionaire owner Patrick Soon-Shiong to prioritize public service over profits.
The decline of the journalism industry is not a temporary downturn, but a result of systemic market failure, with the U.S. losing one-third of its newspapers and two-thirds of its newspaper journalists since 2005. [ more ]
Boston.com
3 months ago
Media industry

Billionaires hoped to profit in media. It's not working.

Billionaire owners are struggling to make money in the news industry.
Wealth is not a predictor for solving the challenges facing media companies. [ more ]
Intelligencer
3 months ago
Media industry

Billionaires Are Journalism's False Saviors

Newspapers like the Los Angeles Times, Time, and The Washington Post are laying off journalists, leading to a bleak future for journalism.
Many of these newspapers were purchased by billionaires who claimed to believe in journalism, but are now making cuts. [ more ]
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