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The Slippery Slope of the Oligarchy Media Model [View all]
The Slippery Slope of the Oligarchy Media ModelBy @RodneyBensonNYU & @VWPickard
On July 28, Apple heiress Laurene Powell Jobs bought a majority stake in The Atlantic.
It’s the latest media purchase by the billionaire class, a group that includes Amazon founder Jeff Bezos (the Washington Post), Boston Red Sox owner John Henry (the Boston Globe), billionaire Glen Taylor (the Minneapolis Star-Tribune) and casino magnate Sheldon Adelson (the Las Vegas Review-Journal).
Some have praised this growing trend, arguing that wealthy individuals are journalism’s last, best hope. And there are notable cases of rich philanthropists, like Pierre Omidyar and Gerry Lenfest, making significant donations toward public service journalism.
Nonetheless, potential hazards arise when news outlets increasingly rely on private capital and billionaires’ largess.
Read more at:
https://theconversation.com/the-slippery-slope-of-the-oligarchy-media-model-81931
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