How The Media Business WorksChris Menahan
May. 18, 2019
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Advancing the narrative is far more important than making a profit.
Case in point, Vox on May 8 ran an article titled, "Disney put more than $400 million into Vice Media. Now it says that investment is worthless":
Just a few years ago, big media companies were falling over themselves to bet on Vice Media. Disney made the biggest bet, by putting more than $400 million into the swashbuckling digital publisher.Even though their propaganda outlet is losing money hand over fist, George Soros and a group of investors poured $250 million into the outlet just days earlier.
From NewsBusters on May 8, "Soros Investment Helps Bail Out Flailing Vice Media":
Vice Media just got some help from the biggest funder of the left: billionaire George Soros.Soros needs them to keep churning out propaganda like this:
On Wednesday, leftist propaganda outlet Salon also announced it's on the brink of bankruptcy.
(Remember, these companies are going bankrupt despite Google, YouTube, Apple, Facebook and Twitter rigging their entire platforms to suppress alt-media and favor their propaganda.)
From The Wrap, "Salon Media Announces $5 Million Sale, ‘Bankruptcy and Liquidation’ Threatened If Deal Fails":
Salon Media says they have reached an 11th hour deal to sell the company and its flagship property Salon.com for $5 million. In an SEC filing, Salon also revealed its position was dire and that it would face imminent "bankruptcy and liquidation" if the deal should fall through.Evidently, their wealthy owners cried "uncle."
The company's troubles, however began long before and were documented in detail in a 2016 Politico Magazine story, which revealed that for years Salon — deeply unprofitable — had been kept afloat by elderly benefactors, John Warnock, a co-founder of Adobe, and Bill Hambrecht a venture capitalist. The two are now 78 and 84 respectively.Perhaps Soros will throw a few million their way.
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