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More so than swimming in ad revenue, said revenue was funneled first and foremost to cover journalistic expenses, not dividends for shareholders. I have seen o
by digi_owl 9y ago
More so than swimming in ad revenue, said revenue was funneled first and foremost to cover journalistic expenses, not dividends for shareholders.
I have seen one too many newspapers be subject to a leveraged buyout, that then lead to the advertisement division spun off as its own company, and the rest left to rot.
- dredmorbius 9y agoDavid Simon's lecture, "The Audacity of Despair", addresses this. Roughly mid-way through, I believe around 40 minutes or so. https://m.youtube.com/watch?v=nRt46W3k-qw https://m.youtube.com/watch?v=nRt46W3k-qw