extreme left washington post and Los Angeles Times They lose tens of millions of dollars every year.
Hey.
After decades of spreading bigotry, lies, conspiracy theories, and political violence, the chickens are finally coming to roost in these terrifying publications.
“This is a new report. Billionaire Patrick Soon-Shiong said he poured hundreds of millions of his personal fortune into unprofitable businesses. Los Angeles Times It highlights how desperate the news industry is to plan for survival in the digital age. ” report Equally terrifying Axios.
“Mr. Soon-Shiong said at the meeting that he had spent nearly $1 billion on the LA Times,” the Axios report adds. “He paid $500 million for the papers and related assets and has had to spend an estimated $300 million in additional cash over the past five years.”[.]”
That's a loss of $60 million a year, or $5 million a month.
of washington post It reportedly suffered a loss of $100 million in 2023. This equates to more than $9 million for him per month.
Reductions in the workforce of both obscene outlets are particularly LA Timesjust announced “massive” layoffs.
Why did this happen? Let me count the ways…
The far-left Axios goes on to explain that the same problem is plaguing still-profitable broadcasters like CNN.
This includes CNN. Announcement by CEO Mark Thompson Wednesday's memo laid out his strategy, including the cry: We need to recapture some of the exaggeration and innovation of early CNN. ”
What Axios fails to explain is that why CNNLOL is still making money….
The free market does not support CNN. How could that be? Nobody watches CNN. CNN is supported by the 50 million idiots who still subscribe to cable/satellite TV. All 50 million people subsidize CNN with a portion of their cable bills. This is called transportation costs, and if there was affirmative action on transportation costs, CNN would have gone bankrupt 10 years ago. There's no way CNN can survive solely on the merits of ad fees based on viewership.
The threat to CNN is streaming. There was a time when more than 100 million households subsidized CNN through their cable bills. As Americans get smarter and move to much cheaper streaming, left-wing cable channels stand to lose huge fortunes without these shipping fees.
Corporate media is so unpopular and untrusted that it can no longer survive without subsidies from billionaires and cable companies. Or maybe it's the idiots who still subscribe to cable that make it possible.
These people hate me the same way they hate all normal people. I don't pretend to overcome their suffering and play the violin.
Breitbart News is hiring…
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