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Joint ventures are reasonably robust corporate structures. Typically, they conduct business through a defined set of rules. There’s a lot of sharing. Companies like joint ventures until they don’t. And that’s how it’s supposed to work.
Social and political polarization have become a constant theme as much of the world is absorbing one crisis after another. Elections bring out the worst in politicians and their supporters. The divide is often blunt and uncompromising. News media is an easy target.
Most business sectors are fairly insular, internal structures strong and skill-sets narrow. In this respect, media and advertising businesses operate like aerospace, agriculture, mining and pharmaceuticals. Financial services touch them all. And, now, so do digital technologies. These are new inputs, sometimes welcome and sometimes not.
The media playbook for politicians was written, sadly, many years ago. Disinformation is, also sadly, quite effective. Total control over every platform is not simply a good strategy. It is the only strategy.
Those who study media economics have made interesting discoveries about paywalls, the seemingly indispensible cookie monsters meant to extract cash. Publishers love paywalls, generally, because their shareholders want more money. Readers are less excited, particularly those desiring access to multiple sources.
Psychology plays an outsized role in business, more so in media. With fad and fashion studied as seriously as physics, the media sector looks for flashes of light and, of course, darkness. Those visions are decorated from the sidelines; the advertising people, the investment bankers, the shareholders, the politicians. Many thrive, truly, on these flashing lights, a certain relief in the chaos. Psychologists have a name for this.
Temperament varies considerably among media folks. Most, understandably, just try to get through the day. Some like the money and status. Others find challenges rewarding. A notable few, particularly on the news side, are motivated by the dictum of Finley Peter Dunne: comfort the afflicted and afflict the comfortable. This can raise tempers.
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