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Reliable Sources

Steven Waldman on Facebook’s fight in Australia, Alden’s takeover of Tribune, and how philanthropy could help fix the local news crisis

Reliable Sources

CNN

News

3.41.4K Ratings

🗓️ 19 February 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Steven Waldman, the president and co-founder of Report for America, connects the dots between the local news crisis, the "financialization" of newspaper ownership, and the spread of disinformation on social media. Brian Stelter also asks Waldman about the rash of recent news about the news industry, including the international implications of the Australian proposal to have tech platforms pay publishers for news, and a hedge fund’s bid to buy Tribune Publishing. Waldman says the decline of local news coverage is "catastrophic for democracy," and proposes some solutions, including tax credits and nonprofit ownership models. "In the scale of the amount of philanthropic resources that are out there... it's actually inexpensive to fix, and yet the consequences of what's happening are so severe," he says. To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

From Facebook to Tribune, from Australia to the United States, there is so much news right

0:09.8

now about the health of the news economy, the news ecosystem.

0:16.4

And there are many signs of how unhealthy it can be.

0:20.9

There are daily stories about disinformation and polarization.

0:25.8

And there's a lot of ways that real news and local news can address some of those problems.

0:33.5

But what about all the recent headlines involving Alden taking over Tribune, local newspapers

0:39.2

being cut to the bone, Facebook and Google, feuding with publishers about whether to pay

0:45.5

for news, there's a whole lot going on.

0:48.4

So let's get into it on the podcast.

0:50.3

Let's cue the music.

0:52.2

This is our weekly reliable sources podcast, and I'm your host, Brian Stelter.

0:57.7

On this podcast, we go in depth with media leaders and newsmakers talking about how the

1:03.0

news gets made.

1:05.4

And there are so many news business stories to talk about right now.

1:10.2

I'm taping this on Thursday, February 18th.

1:13.0

There are headlines about Facebook blocking news articles in Australia, other headlines

1:17.6

about the Baltimore Sun being saved from a Vulture hedge fund, a lot going on.

1:22.2

And we're going to connect the dots now with Steve Waldman.

1:26.0

Steve is the president and co-founder of Report for America.

1:29.4

It's an initiative of the Ground Truth Project.

1:32.0

We've covered Report for America in the past, and we're going to get into what it's

1:35.8

doing both in the United States and around the world trying to restore and rebuild local

...

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