We’ve long heard about how the news business is failing - layoff after layoff, media execs have claimed that they have had no choice but to make cutbacks.In Bell’s latest round of 4800 layoffs, CEO Mirko Babic defended his decision to a parliamentary committee, claiming the company was struggling in a tough economic environment - and that news was part of what was bringing them down.But is that the full story? Because before Google and Facebook ate up advertising dollars, the Canadian media companies of the 90s made a bad bet. And it failed to pay off. And now… the news industry is taking the fall. Further reading:Corporate ownership of media has failed Canadians, Marc Edge, Canadian Dimension, 2024Bell Media Has Cut 1 In 4 Positions Since 2020 as Parent Company Keeps Dividend Rolling, The Deep Dive, 2024 Media convergence, acquisitions and sales in Canada, CBC, 2010Convergence after the collapse: The ‘catastrophic’ case of Canada, Marc Edge, Media, Culture and Society, 2011Financialization and the “Crisis of the Media”: The Rise and Fall of (Some) Media Conglomerates in Canada, Dwayne Winseck, Canadian Journal of Communication, 2010Host: Jesse Brown & Cherise SeucharanCredits: Caleb Thompson (Audio Editor), Bruce Thorson (Senior Producer), André Proulx (Production Coordinator), Karyn Pugliese (Editor-in-Chief)Sponsors: Betterhelp Douglas IndochinoAdditional Music by Audio Network.Support Canadaland at canadaland.com/joinYou can listen ad-free on Amazon Music—included with Prime. Hosted on Acast. See acast.com/privacy for more information.