Newspaper revenue is at its lowest since 1951. An industry is disappearing. Kodak, virtually a monopoly 50 years ago, went bankrupt recently. How could a corporate culture with that degree of success and power in an industry change when the industry shrunk by over 90% within just a few years? Other bright stars came and went. Polaroid, which once seemed futuristic, is gone, Lehman Brothers, etc, quite a long list. GE is out of its original business, though it no doubt would argue that that was a wise choice.
We first looked at this issue with regard to legacy media outlets almost a decade ago. Since then, the legacy media seem to have gotten even more rigorously biased towards their ideological allies, or are at least more brazen and less circumspect about it. The environment certainly seems nastier, not to mention crazier among new media types ideologically aligned with the newspapers of yesteryear. There seems to be a sense of desperation, maybe business-driven, maybe ideological. Which worldview will win, Texas or NY/LA/DC? Hard to say, but it isn’t going to be pretty.