From Town Criers to Bloggers: How Will Journalism Survive the Internet Age?
The cornerstone of the free market is supply and demand. If there is no demand for a product, in this case print media and cable news programming, then it is incumbent on the supplier to adapt to a changing market or to simply fail. It is not the governments duty to prop up a failing business model. This does not promote change to a more successful model, it merely extends the life of a dying one. In this case the life support could be indefinite due to the size of the reservoir of taxpayer money. Does this make any sense to anyone?! WE will be paying to float a bloated corpse of an industry that consumers have already shown they don't want by not buying their product! This is where the spirit of innovation lives. If a successful business starts to decline the strong are going to self-examine their role in the market and change to meet the new demands of the consumer. The weak are going to ignore the new market and eventually fail. They will inevitably be replaced by a new start-up who will have learned from watching the previous entities mistakes. This is how America became the economic powerhouse that it is. Bailing out these failing businesses will only serve to stifle creativity and innovation in the market while draining taxpayer money that could be so much better served in other areas.