I’m now reading The Death & Life of American Journalism whose authors advocate for public funding of journalism outlets. They claim for-profit news enterprises simply cannot keep up with the demand for profits from investors and make the investments necessary to attract enough readers to remain viable.
It seems again the capitalist model is not working out for the front-line workers of their customers.
The media industry may be going through some rough times, with the landscape changing day to day, but at least one aspect is business as usual: big paydays for the people at the top.
Top executives at the country’s largest media companies continued to reel in multimillion-dollar pay packages in 2009, a year of widespread cost-cutting throughout the industry. In several cases, the packages even increased from the year before.