- Digital media went through a bloodbath in 2019, with investors seeing billions in theoretical value wiped out and scores of people losing their jobs.
- Some venture capital funding continued to pour into media companies, but many journalism upstarts didn’t meet aggressive growth expectations, which forced them to look for buyers and sell for less than their onetime private market value.
- Observers predict more firesales and consolidations in 2020 as there are still many small, independent digital outlets facing an unfriendly business climate.
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