Some people have advances the sophistical argument that more consolidation will help the news business, because consolidation leads to richer owners, who can afford to make investments in the news outlets they have purchased. The only problem is - the more these owners are isolated from competitive pressures, the less likely they are to invest in improving the quality of the news media - whether it is broadcasting or newspaper.
This fact is glaringly demonstrated by the current crisis US newspaper business - the logical consequence of decades of breakneck consolidation with nary a thought given to the public good that the news media provide. So now - the industry is in crisis and Congress finally has woken up to the fact that the provision of even basic civic information is being threatened. The horse has left the barn.
What now? Your guess is as good as anyone's.
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