June 12, 2019

JOANNE LIPMAN: Tech overlords Google and Facebook have used monopoly to rob journalism of its revenue.

Over the past decade, the news business has endured a bloodbath, with tens of thousands of journalists losing their jobs amid mass layoffs.

The irony is, more people than ever are consuming news. There’s never been a greater need for factual reporting, from the White House down to the local school board.

Why the disconnect? Look no further than a new study by the News Media Alliance, which found that in 2018, Google made $4.7 billion off of news content — almost as much as every news organization in America combined made from digital ads last year. Yet Google paid a grand total of zero for the privilege. News industry revenue, meanwhile, has plunged.

Nice work if you can finagle it.

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