(The New York Times) — When the 2016 campaign began, legacy news organizations already faced dim industry projections. Slides in print revenue at newspapers and magazines were accelerating; online advertising, the escape plan for these businesses, teetered.
Television executives, lamenting smaller audiences and less enthusiastic advertisers, had finally realized that the huge changes elsewhere in the media industry were coming for them, too.
At the same time, a brighter media narrative was unfolding in the growing importance of online social networks — the real new mass media. On Facebook and Twitter, election coverage could be consumed on a large scale, and readers were promised a restructuring of the news media that put them in a position of greater power. The business possibilities for these companies, and for those that worked with them, seemed enormous.
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