The Media Is Melting Down, and Neither Billionaires Nor Journalists Can Seem to Stop It

January 26, 2024

Unfortunately, it seems, no category of owner appears able to salvage a media business in decline, with business models still stuck in the past (programmatic, anyone?) The media sector is facing a crisis unlike anything seen since the 2008 financial mess, with layoffs and cost-cutting at every turn. Or when eBay founder Pierre Omidyar pumped millions into a new venture called First Look Media? Or when The New York Times was worried about HuffPost? Of course, a decade ago may as well be a lifetime ago, as far as the media business is concerned.