Monopolies and the Evolution of Media Business

Media businesses used to thrive on local advertising monopolies where each newspaper dominated a specific region, resulting in profitability and little competition. Advertising in the LA Times, for instance, helped fund numerous foreign bureaus. This lack of competition sustained a variety of players coexisting without direct rivalry. However, the current landscape sees a shift towards competition among general interest players, leading to a scenario where major news bundles compete, marking a significant evolution from the previous era of non-competitive coexistence.