Editorials & Other Articles

The reason to own cable news outlets and legacy newspaper is to influence policy. The audience for cable news is retirees and beltway insiders. It is an echo chamber that immerses the viewer in sets of narratives. The goal is to make certain expenditures and policy changes seem inevitable or necessary. Cha-ching!

For example, in 2022 CNN spent $880 million creating and delivering their programming. They took in $590 million in ad revenue. A net loss of $290 million. They run in the black on paper when you count licensing fees, a whole other rabbit hole but an accounting shell game.