Comments by "Xyz Same" (@xyzsame4081) on "The Press Is Finally Taking Bernie Sanders Seriously" video.
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Some outlets have been bought to shape public opinion (which is even more important than making money with ad revenue, although they try to combine that). Weapons manufacturers (or their investors) and big finance make a point of owning outlets (and not only in the U.S.). WaPo belongs to Jeff Bezoes owner of Amazon. - Sure Rupert Murdoch made his media empire of trashy newspapers and right wing TV channels very profitable (race to the gutter tabloide-style).
But they also take care to guarantee certain election outcomes by influencing the voters and riling them up, and shifting the Overton window to the right / neoliberal stance (lower wages, no welfare state and cut taxes, divide and conquer tactics, anti immigration, anti Muslim, anti gay, ... does not really matter as long as "look over there" works with the resepctive audience).
That wasn't necessary back in the day, but now with "democracy" and the unwashed masses having the vote and being allowed to run for office .... - gotta contain them somehow !
Bloomberg also does not directly profit from his massive campaing spending now (but it is tax deductible most likely). Nor does he want to or need to win - if he just can make sure that either Trump or a Corporate Democrat win he (and his ilk) are fine.
Likewise the billionaires that buy media outlets could even afford to have them if they are not profitable.
Media outlets are also megaphones for the Military Industrial Complex (that is why they have ads for Boeing, which do not have a consumer product). The TV network pays off even if they are less profitable, because the people owning them also are invested into war, weapons manufacturing, for-profit healthcare, ... a crooked financial system and economic order.
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