HomePoliticsMajor Media On Verge Of Collapse – Trump Broke Them!

Major Media On Verge Of Collapse – Trump Broke Them!

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After being acquired by billionaires, several notable newspapers and media organizations have sustained substantial annual losses totaling millions of dollars on a consistent basis. Initially, these billionaires operated under the notion that they could simultaneously enhance the financial landscape and maintain an editorial stance that overtly criticizes President Trump and the Republican Party.

In reference to an article in DNYUZ, it is stated that years after being acquired by affluent patrons, renowned publications including the Washington Post, the Los Angeles Times, and Time magazine continue to suffer substantial financial losses. Regrettably, there are currently no signs suggesting that their financial circumstances will improve in the near future.

The article states that, “As the prospects for news publishers waned in the last decade, billionaires swooped in to buy some of the country’s most fabled brands. Jeff Bezos, the founder of Amazon, bought The Washington Post in 2013 for about $250 million. Dr. Patrick Soon-Shiong, a biotechnology and start-up billionaire, purchased The Los Angeles Times in 2018 for $500 million. Marc Benioff, the founder of the software giant Salesforce, purchased Time magazine with his wife, Lynne, for $190 million in 2018.”

As per the article, newsrooms approached the new proprietors with prudence in all circumstances, expecting that their technological expertise and financial acumen would provide resolutions to the intricate challenge of generating revenue as a digital publication.

However, it appears that the affluent are facing similar challenges as the majority of the population. According to informed sources, Time, The Washington Post, and The Los Angeles Times all encountered substantial revenue declines in the preceding year, notwithstanding substantial investments by their proprietors and intentional efforts to generate supplementary income streams.

“Wealth doesn’t insulate an owner from the serious challenges plaguing many media companies, and it turns out being a billionaire isn’t a predictor for solving those problems,” stated Ann Marie Lipinski, the curator of the Nieman Foundation for Journalism with Harvard University, in an interview with DNYUZ. “We’ve seen a lot of naïve hope attached to these owners, often from employees.”

The most immediate impact of the anticipated financial harm is expected to be felt by employees of The Los Angeles Times, who are preparing for potential negative consequences. Kevin Merida, a highly regarded newspaper editor, reportedly resigned recently as a result of editorial and financial priorities that diverged with Soon-Shiong, according to two sources with knowledge of the situation.

DNYUZ went on:

In the middle of last year, The Times was on track to lose $30 million to $40 million in 2023, according to three people with knowledge of the projections. Last year, the company cut about 74 jobs, and executives have met in recent days to discuss the possibility of deep job cuts, according to two other people familiar with the conversations. Members of The Los Angeles Times union have called an emergency meeting for Thursday to discuss the possibility of another “major” round of layoffs: “This is the big one,” read the email to employees.

Even at The Washington Post, Bezos has encountered challenges. Similar to numerous journalistic enterprises, The Post has encountered challenges in sustaining the expansive expansion it witnessed in the aftermath of the 2020 election. Due to declining subscriptions and advertising revenue, the organization suffered losses of approximately $100 million over the previous year.

“At the end of the year, the company eliminated 240 of its 2,500 jobs through buyouts, including some of its well-regarded journalists,” according to DNYUZ.

However, the majority of these news media organizations persistently maintain a clear bias against Trump and conservatism in their works. “Total revenue decreased for CNN and MSNBC and increased for Fox News in 2022, according to estimates from Kagan, a media research group in S&P Global Market Intelligence,” reported by the Pew Research Center.

Pew added that “CNN’s total revenue decreased by 5%, from $1.9 billion in 2021 to $1.8 billion in 2022. Similarly, MSNBC’s revenue fell from $977 million to $903 million, an 8% decrease. Fox News saw a 5% increase, from $3.1 billion in 2021 to $3.3 billion in 2022.”

“In 2022, Newsmax made $66 million in revenue, a 14% decrease from 2021. Since Newsmax had zero license fee revenue, virtually all of the channel’s revenue came from advertising,” Pew explained.

Laura Ingraham, a Fox News personality, issued a resolute proclamation on her program last week, wherein she urged Nikki Haley and Ron DeSantis, among other potential Republican presidential candidates, to concede their defeats and support Donald Trump.

This followed Trump’s resounding victory in the Iowa caucuses, which Ingraham described as a pivotal turning point for the Republican Party.

“This is my advice to the last three, and that’s the focus of tonight’s angle. After what we witnessed in Iowa last night, it’s time for everyone to start living in the real world,” she exclaimed. Trump’s triumph in Iowa, while grappling with numerous indictments and managing court appearances alongside his campaign, served to reinforce his position as a strong political powerhouse.

Ingraham’s communication was unambiguous and straightforward, particularly in reference to Ron DeSantis, whose campaign endeavors she recognized by stating: “He outperformed last night. He beat Nikki Haley’s war chest. So he has a lot to be proud of.”

DeSantis ended his campaign on Sunday, January 21.

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