POSC150 Lecture Notes - Lecture 18: Five Ws, Personal Finance, Penny Press
24 Apr 2017
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Learn that the type of news contact we receive is due to journalistic norms and expectations and various other constraints: journalistic system is grounded/constrained. Produce news in a cheap, timely manner (i) newspapers have limited space and consumers have little attention/time. Media is a business first: profit-seeking became more common/pronounced after the penny press appeared. New technology allowed this revolution: profit-seeking plays an even larger role now. Control of news agencies went from local and independent to national and international media conglomerates. More than 75% of news agencies are owned by a few large media tycoons. Executive and shareholder pressures turned news into another product that is expected to generate profit. They want a good product that sells widely. Local newspapers are owned by members of the media monopoly. As print media declines, they can"t sell cheap newspapers filled with ads to create revenue. More pressure to create a quality product to survive.
