Economic News

Corporate Reporting & McMansions

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Article in FAIR by Wilson Korik, 8/31/26

Headline:  “Corporate Media Worried Second Homes of ‘Blue-Collar’ Millionaires Might Be Taxed”

“. . .instead of accurately reporting on a modest wealth tax and fraud prevention measure, some corporate media took the opportunity to fabricate a reality in which the number of New Yorkers subjected to the tax was vastly overestimated, conjuring up a large mass of working- and middle-class New Yorkers who would have to deal with an opaque, complex exemption process. . .”

Read the full article at:

https://fair.org/home/corporate-media-worried-second-homes-of-blue-collar-millionaires-might-be-taxed/

Media Jobs Drought

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Article in The Wrap by Casey Loving, 8/28/26

Headline: “Longtime WNBC Investigative Reporter Reveals Network Eliminated Her Position, Cites Changing Media Landscape”

Subhead: ” ‘ No, I’m not retiring,’ Sarah Wallace says while teasing her next move”

“After parting ways with New York-based news station WNBC, longtime investigative journalist Sarah Wallace wants to clear the air: She’s not retiring.

“Instead, the seasoned journalist, whose resume boasts 19 Emmy Awards and a Peabody Award, revealed in a direct-to-camera social media video on Friday that her position was entirely eliminated from the company, citing the changing media landscape as the cause for her career change. . .”

Read the full article at:

https://www.thewrap.com/media-platforms/journalism/longtime-wnbc-investigative-reporter-position-eliminated/

Blocking Media Mega-Merger

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Article in Free Press by Staff, 8/27/26

Headline:  “Block the Merger Coalition Urges State AGs to Hold Strong in Antitrust Suit, Launches No Concessions Platform”

“WASHINGTON — The Block the Merger Coalition is launching a new public-facing petition thanking the 12 state attorneys general who sued to block the dangerous Warner Bros. merger and calling on them to hold strong in their suit. That includes rejecting empty concessions from Paramount before the March 2027 trial.

“Any unenforceable concessions the Ellisons propose in a backroom are a losing proposition, assert the organizers behind http://NoParamountConcessions.com. They ask state AGs to uphold the antitrust laws so workers in the entertainment industry, consumers and the general public get their day in court. . .”

Read the full article at:

https://www.freepress.net/news/block-merger-coalition-urges-state-ags-hold-strong-antitrust-suit-launches-no-concessions

NYT Spinning the Wheel?

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Article in Status by Oliver Darcy, 8/25/26

Headline:  “The Times’ Kalshi Gamble”

Subhead: “News that The Athletic is in talks with Kalshi on a potential partnership has prompted unease inside the broader New York Times Co. over the reputational risks of getting into bed with the controversial company, staffers tell Status.”

“. . .One of those partners, I am told, is Kalshi, the controversial prediction markets company, where users can bet on topics ranging from elections to finance to culture—and yes, sports. According to Front Office Sports, which first broke the news, The Athletic and Kalshi are in “advanced talks” to strike up an agreement, . .”

Read the full article at:

https://www.status.news/p/the-athletic-kalshi-new-york-times-sports-betting

Consolidating Media Costs Jobs?

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Article in The Wrap by Lucas Manfredi, 8/19/26

Headline:  “Paramount-WB Deal Could Cost LA 4,500 Film and TV Jobs and $2.8 Billion, Study Finds | Exclusive”

Subhead:  “Over 5,800 indirect or induced jobs from related small businesses could also be at risk over the next three years”

“. . .If the two companies merge, the decisions they make about where to
film their shows could dramatically affect how much production stays in California, CVL and DEO said. The high cost of living in L.A. County and California, combined with stronger incentives out of state and abroad, also contribute to work shifting out of the state and country. . .”

Read the full article at:

https://www.thewrap.com/industry-news/deals-ma/paramount-warner-bros-deal-job-losses-los-angeles/

Should AI Pay Journalists?

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Article in Columbia Journalism Review by Issie Lapowski, 8/13/26

Headline:  “Axios Wants to Save Local News with AI”

Subhead:  “At the end of the day, if someone’s going to pay you for content, you say: Well, how much are you going to pay me?” Jim VandeHei, the chief executive, said of his company’s deal with OpenAI. “If that payment feels like it’s a fair transaction price, you say yes.”

“. . .Every media company faces existential questions about the rise of AI, especially this one: How should newsrooms get paid for the information AI spits out and the models that were trained on journalists’ work? The New York Times has sought to answer this question in court. Some (including the Times) have struck licensing deals. . .”Axios Wants to Save Local News with AI

Read the full article at:

https://www.cjr.org/feature/axios-wants-to-save-local-news-with-ai-jim-vandehei-tech-newsletters.php

Can’t Pay to Play in Media Now

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Headline: ” Top Forbes editor reportedly fired after receiving $6m from business associate”

Subhead: “Randall Lane left his job last month after accepting money from founder of firm that does business with magazine”

“The top editor of Forbes left his job last month and was reportedly dismissed for accepting $6m from the founder of a firm that does business with the magazine.

“The New York Times reported this week that Randall Lane was paid by RJ Shook, whose company, Shook Research, worked with Forbes since 2016 to publish rankings of wealth advisers. . .”

Read the full article at:

https://www.theguardian.com/media/2026/aug/13/forbes-editor-fired

Pay Money Get Info?

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Article in Al Jazeera by Staff and AP, 8/12/26

Headline:  “Media groups sue Trump over paid access to public social media posts”

Subhead:  “Lawsuit claims Trump profits unfairly by charging up to $100,000 monthly for exclusive access to presidential posts.”

“The publication The Intercept and the nonprofit Freedom of the Press Foundation have filed a federal lawsuit against United States President Donald Trump to block his social media service from selling advance access to his posts.

“Court filings on Wednesday argue that the subscription-based service would restrict access to matters of public interest. . .”

“Critics have pointed out that Trump uses his Truth Social account to announce policy changes that could have effects on the economy. Trump’s comments, for instance, about the US-Israel war on Iran have sent ripples through global oil markets.”

Read the full article at:

https://www.aljazeera.com/economy/2026/8/12/media-groups-sue-trump-over-paid-access-to-public-social-media-posts

Pay for NBC News Now?

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Article in Status by Oliver Darcy, 8/10/26

Headline: “The Peacock’s Paywall”

Subhead:  “NBC News once vowed to keep its journalism free, but the news outlet is now putting its exclusive and enterprise reporting behind a digitral paywall — and not everyone inside the company is thrilled, Status has learned

“Last February, NBC News Group boss Cesar Conde announced a major initiative in an internal meeting: a subscription service for NBC News. Until then, NBC News had proudly championed the fact that it made its reporting free. . . ”

Read the full article at:

https://www.status.news/p/nbc-news-paywall-subscription-service

Rt. Media Burrito Rage!

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Article in Media Matters by Jack Winstanley, Gideon Taaffe & Hanne MacDonald, 8/11/26

Headline:  “Right-wing media’s affordability burrito brawl”

Subhead:  “After a post complaining about a $20 burrito went viral, some right-wing figures accused those dismissing concerns about affordability of “giving the finger to voters” and driving them ‘into the arms of the socialists’ ”

“Last week, Turning Point USA’s Andrew Kolvet’s post about a college student noting the high price of a burrito sparked a debate among conservative commentators over whether food affordability is a real issue for voters.

“While some dismissed concerns over an expensive burrito, advising those complaining to ‘cry me a river’ and cook food at home, other right-wing personalities noted such responses were equivalent to ‘giving the finger to voters’ and accused those commentators of “trying to gaslight us into being happy that it’s unaffordable.”

Read the full article at:

https://www.mediamatters.org/daily-wire/right-wing-media-figures-push-back-other-conservatives-mocking-concerns-about