Then the crisis hit. I'll never forget one of my adjunct professors, who often appeared on CNBC, having a near panic attack in class one day. It came like a virus striking an already sickly herd. Local papers shed jobs, many papers shut down or became nothing but AP copy-paste jobs. I decided around this time to go to law school (ahh, the mistakes of youth) because I would have been competing with hundreds, if not thousands, of applicants for near-poverty-line salaries at local papers in rural states.
Many places that didn't fold during this time changed hands, and you should ask yourself what the motive would be for someone to purchase a traditional newspaper when it was clear the market for traditional news was being strangled. It's not exactly a good bet for profit-making, so I've always felt like alternative goals were in play.
This. The change is coming from the bottom up, and internal reports from the NYT and elsewhere usually suggest that when there's another "woke" controversy it's generally the young being pitted against the old.
There's been an enormous cultural shift at our elite colleges in the last five to ten years, and the inquisitors of the new religion have by now had several years to graduate and enter the institutions. This trend is going to continue - we're only just getting started.
That's one way to see the recent NYT purges. If I can force out a colleague for some marginal etiquette infraction, that's one fewer competitor in the shrinking job pool.
They're definitely in decline financially, but that does mean there are a lot of great journalists that are available to hire.
I'm skeptical it's an actual takeover per se, and not the older generation being completely blindsided by the force with which the younger generation(s) release their demands. They probably just don't know how to deal with it, and so are giving too much deference to them because doing otherwise risks the online twitter mob.
Is legacy media really leaking talent and cash like I hear so often (honestly asking, haven't seen the data)? If that's true, and social media and technology have neutered their position atop of opinion-forming institutions, that is going to build some very bad incentives in these legacy media companies as far as journalistic integrity goes.