Posted October 09, 2018 09:17:48The number of news outlets that have lost their funding in the past two years, and which are in the process of being liquidated, have not been announced, but it’s safe to assume that this number will increase as more outlets go out of business.
There are a number of factors which are being brought to light, such as the fact that most of the news outlets which were acquired by foreign conglomerates have recently started reporting for a Chinese market, with the intention of becoming international.
For instance, the China Central Television (CCTV) was acquired by China Media Capital Group (CMG) in August 2018 for $2.5 billion, with it’s flagship news channel, China Central TV (CCT), reporting for the domestic Chinese market.
The other major news outlet to be acquired in recent years is the People’s Daily, which was bought by the state owned China News Corporation (CNC) for $4.8 billion in September 2018.
Other media which have gone out of the business include the Shanghai News, China Global Television (CGT), the South China Morning Post, and the Global Times, which all have been bought by Chinese investors.
Although some of these outlets are no longer in business, many have been forced to close their doors due to a number, which includes the South-East Asia Times, Xinhua News Agency (XNA), and Global Times.
This is not the first time the Chinese media has been sold off.
In 2015, China News International (CNI), a news agency which covered the domestic market, was acquired for $1.9 billion by CNC.
The sale also brought the closure of other media outlets such as China Central News Agency and China Morning News.
As the country continues to grow, many media outlets have been pushed out of their current locations, which means the country is rapidly losing more and more of its local and regional news and information sources.
When the media has lost its independence, there is no one who can help the media in the future.
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