Major News Outlets Continue Losing Millions Amid Anti-Trump Coverage

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Major News Outlets Continue Losing Millions Amid Anti-Trump Coverage

By: Jon Dougherty, Conservative Brief, January 20, 2024

Several major newspapers and media outlets have continued losing tens of millions of dollars per year after they were purchased by billionaires who initially believed they could turn things around financially while still maintaining a decidedly anti-Trump, anti-GOP editorial slant.

According to a report in DNYUZ, outlets like the Washington Post, the Los Angeles Times, and Time magazine are still losing millions of dollars years after being sold to billionaire benefactors, and there appears to be no sign of their financial conditions improving on the horizon.

“As the prospects for news publishers waned in the last decade, billionaires swooped in to buy some of the country’s most fabled brands. Jeff Bezos, the founder of Amazon, bought The Washington Post in 2013 for about $250 million,” DNYUZ reported. “Dr. Patrick Soon-Shiong, a biotechnology and start-up billionaire, purchased The Los Angeles Times in 2018 for $500 million. Marc Benioff, the founder of the software giant Salesforce, purchased Time magazine with his wife, Lynne, for $190 million in 2018.”
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On each occasion, the newsrooms welcomed their new owners with guarded optimism, hoping that their business expertise and technological knowledge would provide solutions to the challenging puzzle of generating revenue as a digital publication, the report said.

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