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It wasn’t hard to see this day coming on the day CNN+ was announced. It didn’t take blowing hundreds of millions of dollars to figure it out.
“Investors can’t force me to cut news, and the union can’t force me to subsidize news,” BuzzFeed CEO Jonah Peretti wrote in an email to employees.
“What was so shocking to me is that all the acquisitions led to staffing changes almost immediately and an almost immediate drop in content.”
“The term ‘news desert’ has been a shorthand, but the real problem here and elsewhere is that this region lacked the number of journalists it needed to thoroughly inform the public.”
“I was tired of getting poked in the chest for not doing anything wrong. And it was like, ‘You know what? If you want to keep poking me in the chest, let me purchase this paper for what it’s worth.'”
“Being so close to bankruptcy made people realize that what we were offering them was a treasure, but it was pretty fragile.”
Its new app, FT Edit, will feature “a curated selection” of eight “deep-dive articles” each weekday morning at a price almost all of its readers can afford. But the ghost of NYT Now looms ominously nearby.
“It’s simple, fast, and gloriously free of baggage. It’s not what we’re not, it’s simply what we are. And anyone is free to use it.”
“I want to swing above our weight class. I want us to be able to cover and do more than we should be able to do.”