‍

Blake, Wm. Christian Reading in His Book. 1824.

‍

Nearly a dozen major media companies are experiencing severe cutbacks, resulting in layoffs and financial struggles. Nationally and locally, the traditional media landscape is shrinking.

The struggling companies include Forbes, Insider, and BuzzFeed. Notably, The Los Angeles Times slashed over 20% of its newsroom staff last week, and Sports Illustrated laid off most of its staff earlier this month after nearly 70 years in operation. Its parent company, Arena Group, failed to make a $3.75 million quarterly payment to the group from which it licenses the Sports Illustrated brand.

This bloodbath comes as Americans of all political stripes trust journalists less than ever. A survey by Gallup found that fewer than one in five Americans now view journalists as having “high” or “very high” honesty and ethical standards.