The practice of journalism has been and largely remains anchored in newspapers and the companies that own them. Despite some notable nonprofit websites that are turning out first-rate investigative stories, such as ProPublica and the Marshall Project, journalism continues to be sustained primarily by for-profit companies. At its heart, journalism in many countries has been and likely will continue to be a business. Knowing who controls that business and determines how monies are earned and spent is critical to understanding the past and future of journalism.

Concentration of newspaper ownership is a major issue in countries throughout the world. The newspaper industries in Australia, Ireland, and Canada are controlled by just a few large firms. In India, three companies control essentially all English-language newspapers; newspapers owned ...

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