The age of media concentration, which turned so disastrously to convergence at the millennium, has now descended into the dystopian hellscape known as financialization, writes media analyst Marc Edge. Under this business model, the media endgame is played out by stripping assets and using to advantage whatever political influence publishers might have left.
Executives at the Montreal Gazette have been asked to reduce staffing by up to 10 at the newspaper as local news outlets across the country prepare for significant layoffs. Publisher Postmedia Network Corp. is laying off 11 per cent of its editorial staff, the Canadian Press (CP) reported earlier this week.