Our Media Problem
Submitted by Meteor Man on Sun, 03/25/2018 - 3:46pmFrom Columbia Journalism Review:
Billionaires Gone Wild
The set up:
In November, Joe Ricketts, the billionaire founder of online brokerage firm TD Ameritrade, patriarch of the family that owns the Chicago Cubs, million-dollar Trump donor, and father of the governor of Nebraska, shuttered DNAinfo, the local news startup he founded, and Gothamist, the network of city blogs he’d purchased just a few months earlier, in a fit of pique, after editorial employees organized a union. Shuttering the company meant nothing to him—DNAinfo reportedly lost money and the Gothamist network was not profitable enough to make an appreciable difference to a man with a net worth estimated at over $2 billion.

