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.