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| -Great Cultural Revolution |
| Nolte: Far-left L.A. Times, Washington Post Losing Ten$ of Million$ Annually |
| 2024-01-20 |
| [Breitbart] The far-left Washington Post and Los Angeles Times are losing tens of millions of dollars annually. Tee hee. After decades of spreading bias, lies, conspiracy theories, and political violence, the chickens have finally come to roost at these dreadful publications. “A new report saying billionaire Patrick Soon-Shiong has sunk hundreds of millions of his own money into an unprofitable Los Angeles Times underscores how desperate the news industry is to chart a plan for survival in the digital era,” reports the equally dreadful Axios. “Soon-Shiong has said in meetings that he had put nearly $1 billion into the L.A. Times,” the Axios report adds. “He paid $500 million for the paper and related assets and has had to spend an estimated $300 million in additional cash over the last five years[.]” That’s $60 million annually, or $5 million monthly in losses. The Washington Post reportedly lost $100 million in 2023. That’s more than $9 million a month. The far-left Axios goes on to explain how the same problems are hitting outlets like CNN, which are still profitable: That includes CNN, where new CEO Mark Thompson unveiled his strategy in a memo Wednesday that carried the rallying cry: “We need to organize around the future not the past. We need to recapture some of the swagger and innovation of the early CNN.” What Axios fails to explain is why CNNLOL is still profitable…. The free market is not sustaining CNN. How could it? No one watches CNN. What sustains CNN are the 50 million morons who still subscribe to cable/satellite television. All 50 million subsidize CNN with a portion of their cable bill. This is called a carriage fee, and with the affirmative action of a carriage fee, CNN would’ve imploded into bankruptcy a decade ago. There is no way CNN could ever survive on merit: advertising rates based on viewership numbers. The threat to CNN is streaming. There was a time when more than 100 million households subsidized CNN through their cable bill. As Americans wise up and move to streaming, which is much cheaper, left-wing cable channels lose a fortune without those carriage fees. Related: Patrick Soon-Shiong: 2019-11-20 Secretive energy startup backed by Bill Gates achieves solar breakthrough Patrick Soon-Shiong: 2018-12-30 Foreign cyberattack disrupts delivery of Union-Tribune and other newspapers Patrick Soon-Shiong: 2018-06-19 Billionaire Patrick Soon-Shiong Takes over L.A. Times, Declares War on ‘Fake News’ |
| Posted by:Skidmark |
| #3 Hobbies can be expensive. The best way to pursue them financially is get others to pay for it. Ask any pro team looking to build a new stadium. |
| Posted by: Procopius2k 2024-01-20 08:23 |
| #2 It's way past time for cable TV to be metered like electricity. Pay only for what you actually use, right down to what channels you actually watch and for how long each day. Of course, with the implosion now occurring in media, the pols will actually go the other way and try to dun people who don't partake of the swill at all to contribute to its financial maintenance. |
| Posted by: M. Murcek 2024-01-20 07:38 |
| #1 Let them eat cakes! |
| Posted by: Grom the Reflective 2024-01-20 01:41 |