This isn’t a new phenomenon in Australia Murdoch’s News Corp owns 66% of the print news in Australia and the majority of the rest is corporately owned. It’s why we need the ABC and more independents because they stand between us and the plundering of our Democracy. By independent I mean news and information not supported by advertising or lobby groups but by subscription only.
This has rapidly become the standard business model for American newspapering. Today, more than half of all daily papers in America are in the grip of just 10 of these money syndicates. That’s why our “local” papers are dying. It’s not a failure of journalism. It’s a plunder of journalism by absentee corporate owners.