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Kathleen Davidson's avatar

"Dreadful lies" don't make anyone gasp anymore... sad. But thanks for the clear exposure. And the Matilda quote did make me smile. Briefly.

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Tony Wikrent's avatar

My understanding of civic republicanism leads me to the following proposals at this time (not likely to be implemented anytime soon, but to begin a civic discussion on how to save news media from domination by corporations and oligarchs). 1. All media organizations must be at least 51% owned by employees, which include the actual journalists. 2. People drawing pay from media organizations are given a large reduction on tax rates. 3. No company or entity is allowed to own more than one media organization in any single metro market or region. 4. This restriction includes hedge funds, trust funds, and investment funds of all kinds, such as State Street, BlackRock, Vanguard, and Fidelity (see https://commonreader.wustl.edu/how-a-company-called-blackrock-shapes-your-news-your-life-our-future). 5. We want to encourage local ownership, but state and local governments are allowed to own up to some small percent — generally under five or percent — of a media company but are not allowed any shareholder votes, and no government official of any kind is allowed to sit on a board of directors and hold any sort of management position. Investments in media organizations should receive special tax treatments, such as interest from municipal bonds was tax free. 7. All media organizations must participate in a nationwide organization of profit sharing, similar to that used in USA major league baseball, such that some small percentage of profits flow into a national pool, or regional pools, and these pools are used to resuscitate and support smaller, less profitable media organizations in small towns and rural areas. These pools are to be managed and supervised only by media employees elected to these positions by fellow employees. ]

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