(TotalConservative.com) – The incestuous relationship between Big Tech and legacy media has become even more apparent with the announcement of a $100 million dollar deal between Google and the New York Times. Google is one of the largest companies in the world with revenues in excess of $280 billion per year, so it can afford to keep the NYT on life support with a plan to feature content from the “Grey Lady” over three years.
The establishment press has spent the better part of its lobbying efforts on getting Congress to pass the Journalism Competition and Preservation Act (JCPA), which would force Big Tech to redistribute its wealth to a consortium comprised of legacy media companies. The bill is dead for now, but leave it to Google to set the standard with a $100 million dollar deal.
Google’s deal will allow the NYT to continue to dominate the news market during dwindling subscriptions as readers get more of their information from smaller outlets, social media, and independent journalists. It follows the same pattern as an earlier deal Google made with Rupert Murdoch’s News Corp to feature its content from outlets like the New York Post, Barron’s, MarketWatch, and the Wall Street Journal. That was another multi-year deal in excess of $100 million that Google tossed to Murdoch’s News Corp.
The deal will increase the depth of Google’s tendrils reaching into the NYT. Google tools for advertising, content distribution, and subscriptions will be available making some of the biggest corporations in media even more interconnected. It begs the question, how big does Google have to get before Congress considers antitrust action?
In 2019, they pledged $300 million toward elevating and strengthening “quality journalism.” Financially the NYT isn’t doing bad, their annual revenue last year was $2.3 billion. However, they’re losing status in a news world challenged by social media and independent content creators. Substack, for comparison raised only $19 million in revenue for the company last year, and it is the go-to for many independent journalists who refuse to peddle the establishment line.
Copyright 2023, TotalConservative.com
