But there are some signs of hope.
The new class of news start-ups — Puck, Punchbowl News, The Ankler and Semafor are among the most prominent — have kept spending down and hired carefully.
They have attracted top journalists by putting them at the heart of the enterprise, sometimes as part owners in the companies.
“There was possibly a mismatch 10 or 15 years ago between funding structures and media companies,” said Jon Kelly, the co-founder and editor in chief of Puck, whose 14 reporters write about topics including politics, finance and media.
“And I think that the entire industry has learned from that.”
Persons:
—, fatefully, ”, Jon Kelly, Puck
Organizations:
Punchbowl News
Locations:
Punchbowl