At the end of 2013, AOL chief executive Tim Armstrong told Reuters he expected the site to be profitable in 2014. But during an interview earlier this month at Business Insider’s Ignition conference, Armstrong said the ongoing international rollout, which includes about a dozen foreign editions from Brazil to France to Maghreb, had prevented HuffPost from breaking into the black. Annual revenues are in the hundreds of millions, Armstrong said, declining to provide a specific dollar figure.
It is now going to drop AP stories. It will substitute in-house stories on foreign affairs, which most Americans are not interested in. HuffPo will save money but lose even more readers. Against the State: An ... Best Price: $5.02 Buy New $5.52 (as of 11:35 EST - Details)
The journal is simply an amusement for Ariana Huffington, who has enough money to bankroll this experiment in red ink.
Across the media landscape, liberal outlets are losing money. To save them, rich people who made billions in digital communications are buying them up at bargain-basement prices. The take-over of The New Republic and the resulting change in policy led to mass resignations early this month. On the 100th anniversary year of that liberal outlet, it went the way of all flesh.
Liberalism bet the farm on its FCC-licensed TV network monopolies and its city monopolies over newspapers. These monopolies are now facing shrinking markets. Red ink beckons as far as the eye can see.
The Web is undermining liberalism all over the world.
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