Media groups in crisis; loss of ad revenue forces publishing cutbacks, job cuts

Media groups in crisis; loss of ad revenue forces publishing cutbacks, job cuts

[Ed. – We wouldn’t want the media to lie to us in order to keep their revenues going.  But sowing chaos, as the industry has relentlessly done for the last two months — in good part by lying — is hurting them as badly as it is everyone else.  When their advertising base can’t buy ads, the media face the abyss.  Might they be in better shape if they had been dedicated more to reporting the news than to selling anti-Trump propaganda?  A lot of the people and local news organizations involved, incidentally, have little control over the content they run.  They’re being railroaded out of jobs by ideologues in a different enclave of the industry.]

The ailing news industry, struggling during a pandemic-induced economic slump, is pressing for new government relief as media outlets scramble to keep covering the health crisis.

News outlets have begun layoffs, furloughs and pay cuts even as readers increasingly turn to the media for reliable information about the coronavirus outbreak.

Many local news organizations are facing “an existential crisis” with the near collapse of advertising revenues, according to a letter from two industry groups to President Donald Trump and congressional leaders.

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