News Media Has Been Ravaged by the Pandemic

“The news media business was shaky before the coronavirus started spreading across the country last month. Since then, the economic downturn that put nearly 17 million Americans out of work has led to pay cuts, layoffs and shutdowns at many news outlets,” the New York Times reports.

“Finding a sizable audience has not been a problem for publishers. Hunger for news in a time of crisis has sent droves of readers to many publications. But with businesses paused or closed — and no longer willing or able to pay for advertisements — a crucial part of the industry’s support system has cracked.”