The New York Times’s Success Lays Bare the Media’s Disastrous State

The financial health of journalism has been deteriorating in such an acute way that every spit and cough emanating from its institutions is anxiously pored over to ascertain whether it’s a death rattle or a sign of miraculous recovery. An outcome few would have predicted for the future of media has been the resilience of a handful of decidedly old-fashioned legacy institutions, at the cost of the shrinking of the supposedly more innovative digital players.

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