How Capitalism Murdered Journalism with Margot Susca

Factually! with Adam Conover

Headgum

Comedy

4.4 • 2.2K Ratings

🗓️ 29 May 2024

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’ve been discussing the slow death of journalism for a long time, but what if it didn’t just “die”? This week, Adam speaks with Margot Susca, a professor at American University and author of Hedged: How Private Investment Funds Helped Destroy American Newspapers and Undermine Democracy, about how private equity firms have dismantled journalism and betrayed America. Find Margot's book at at factuallypod.com/books

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Transcript

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0:00.0	This is a headgum podcast. I don't know what to think I don't know what to say
0:16.0	and that's all right that's okay
0:21.0	I don't know anything.
0:26.0	Hello and welcome to Factually.
0:27.4	I'm Adam Conover.
0:28.2	Thank you so much for joining me on the show again.
0:30.3	You know, there's a story we tell ourselves
0:32.4	about the death of journalism in America.
0:35.0	It goes like this.
0:36.0	Local newspapers benefited from a multi-decade monopoly over information.
0:40.0	They made bank selling classified ads and ads in the funny pages in the sports section and that they used all that money to support accountability journalism in the public interest.
0:50.0	You know, investigating the corrupt city council member who was given a local
0:53.4	baseball stadium a tax break in exchange for a lifetime of free hot dogs or
0:57.3	whatever the fuck but then a quarter century ago comes Craigslist and the
1:02.3	internet and that classified ad business model is
1:05.4	shot to shit. Big tech wins, newspapers lose, the revenue dries up, papers don't
1:10.8	react quickly enough and so they die.
1:13.2	It's sad, yes, but oh, it's sort of their own fault
1:16.0	because that's what happens when new technology rolls through.
1:19.2	Right? Well, wrong.
1:21.3	That is not the full story. The decline of local news is not just the natural
1:26.5	result of increased competition. But as our guest today makes clear, it is the result of deliberate
	...

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