Statement on New York Daily News Layoffs
July 25, 2018
For Immediate Release: July 25, 2018
Contact: Mckenzie Jones at [email protected] or 352-870-2587
Open Markets Institute’s Executive Director, Barry Lynn, Responds to New York Daily News Layoffs
Washington, D.C. – In light of the recent layoffs at the New York Daily News, Open Markets Institute’s Executive Director, Barry Lynn, released the following statement:
“This week’s layoffs at the New York Daily News are a stark reminder that newspapers today can’t do business without Facebook and Google. These tech monopolies control access to readers and use that power to steer advertising revenue away from publishers and into their own pockets, undermining the business model that enables journalistic institutions to thrive and pushing publications into an endless cycle of cost-cutting and layoffs. Lawmakers and regulators must use antitrust law and competition policy to protect local journalists from these dangerous monopolists. Our democracy depends on it.”
The Open Markets Institute has drawn up a straightforward plan to address Facebook’s monopoly power, based on America’s traditional anti-monopoly laws, which is summarized in The Guardian here.