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This isn't a new trend. Rich people have always purchased news media, often to help their other businesses. It's been going on for the longest time. Indeed, in
by xhkkffbf 3y ago
This isn't a new trend. Rich people have always purchased news media, often to help their other businesses. It's been going on for the longest time.
Indeed, in the US many of the newspapers were started by political parties who used the papers to push their candidates.
- vundercind 3y agoThe US did used to have rules preventing too much concentration of media ownership. Then the telecommunication act of 1996 happened and jettisoned a bunch of those rules “to foster competition”, which in fact predictably reduced competition. Later action prompted by the act (2003) made it even worse. It has always been the case that rich & powerful folks tend to own media, but for a while we had pretty effective rules preventing any one entity from controlling too much of a given media market, which tempered that tendency. We got rid of much of that, with predictable results.