I work with a lot of tech heads and people who are looking to disrupt the current financial and technological landscape, most of them are incredibly cynical about the large media groups to the extent that many will trust some questionable news sources over professional journalist. While that’s not unwarranted at all, many of them seem bent on referring to these groups as “legacy media”. I think that is a pretty major misread of the current landscape based on what I have been reading and my experience recently working on editorial illustrations.
My point is this: the era of the death of establishment media groups dying is over. Those media groups, especially news papers but also cable TV, that did not adapt quickly enough to the digital age are already dead or effectively insignificant. Referring to them as “legacy media” is a joke.
The New York Times is posting 400 million USD in revenue every quarter with a subscription growth of 15% each quarter for the last 18 months. CNN is seeing similar growth thanks to Trump regularly targeting them every time they publish something he doesn’t like. While he seems to have discredited them with his supporters, it seems to have had the reverse effect with independents and Dems.