Journalism Industry Faces Unprecedented Layoffs and Closures

Recent weeks have seen a wave of layoffs and closures across the journalism industry, with no clear solution in sight.

The Messenger, launched with $50 million in backing, shuts down after less than a year, laying off 300 journalists.
The Los Angeles Times lays off more than 100 journalists amid financial losses, despite billionaire ownership.
Sports Illustrated magazine lays off all 100 staff members, and Vice Media files for bankruptcy.
Tech giants like Google and Meta dominate the online ad market, contributing to journalism's financial woes.
Experts call for government action and new funding models to address the journalism industry's market failure.