Journalism’s Broken Business Model Won’t Be Solved by Billionaires

The story of Alice Rogoff and the Alaska Dispatch News is a cautionary tale that shows the limits of what a wealthy owner is willing, or able, to do for a struggling newspaper in the digital era. In the three years that Rogoff owned the paper, its value declined ninety-seven per cent. Of course, Rogoff’s debacle is emblematic of a much bigger financial crisis in American journalism. Even with the arrival of a handful of rich backers—Bezos, at the Post; the Sandler family, at ProPublica; and Laurene Powell Jobs, at The Atlantic—the broader industry has failed to find a viable digital-news model as traditional forms of revenue—advertising and subscriptions—continue to evaporate like rain in the Sahara.

Creating indispensible journalism—whether at the local or national level—is not without cost. It does not want to be free. If people aren’t willing to pay for it, like they pay for the Internet or cell-phone service, then it will surely disappear, sometimes right before your eyes.