You’ve probably heard the adage about not putting all your eggs in one basket.
It’s an especially meaningful one for newspapers. For decades, they relied heavily on advertising revenue. That arrangement stopped working about 20 years ago, as audiences moved online and advertisers followed. News media outlets moved online as well, but they found themselves in a losing battle for advertising dollars against new digital competitors such as Craigslist, Facebook and Google. One-third of U.S. newspapers have closed in the past two decades, most of them local.
