A downbeat media roundup: Buffett disappoints, startups falter and publications die

Has there been a more disappointing newspaper owner than Warren Buffett? When Buffett bought 63 papers from the Media General chain in 2012 for $142 million, it looked like the billionaire investor might play a significant role in reinventing local journalism. Unfortunately, it hasn’t worked out that way.

Buffett is by no means the worst owner a newspaper could have — not with hedge funds and corporate chains slashing and burning their way through the mediascape. But anyone who hoped he would establish himself as an innovative force in recalibrating the economics of journalism has to be disappointed.

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Is trust-based journalism the future? Jay Rosen thinks so.

Jay Rosen announced last week that he would be taking a role with The Correspondent, the American version of a Dutch news project that its founders hope to launch next year. Rosen, a New York University journalism professor and one of our most perceptive media observers, explained in an essay for the Nieman Journalism Lab that he was intrigued because The Correspondent has been “optimized for trust.” Among other things, the site will be free of advertising, and reporters will be required to engage in an ongoing conversation with their readers.

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