CNN President Jeff Zucker criticized U.S. regulators for being alarmed over the AT&T and Time Warner merger, but not showing the same interest in ‘monopolies’ like Facebook and Google.
After noting that U.S. regulators are keeping a close watch on AT&T-Time Warner or Fox-Disney “combinations,” Zucker added that “nobody, for some reason, is looking at these monopolies that are Google and Facebook.”
He believes that the government should be looking at the two tech giants to ensure that smaller media companies manage to “survive”. Zucker believes that lack of regulatory oversight when it comes to online monopolies will bar the growth of journalism in the coming years.
Last fall, The Department of Justice (DOJ) stepped in to block the $85.4 billion merger between Time Warner and AT&T, arguing that the wireless carrier would use Time Warner’s resources to stymie competition. The DOJ voiced concern that a merger would curb innovation and lead to higher bills for Americans.
Meanwhile, 65% of online ad revenue will be generated via Google’s and Facebook’s platforms by the end of the year.
CNN President Worried Good Journalism Would Go Away
On Monday, the CNN boss also urged media companies and advertisers to find new ways of monetizing digital media across mobile platforms, arguing that “good journalism will go away” in the absence of a steady stream of revenue.
Zucker complained that “in a Google and Facebook world,” making a living from journalism continues to be more difficult than expected. Since he took over CNN five years ago, Zucker allocated a lot of resources to its digital unit.
The businessman noted that the average age of CNN audience is 59, while the average age of Facebook and Google audiences is 37.
CNN’s digital content had 122 million visitors last month, with Yahoo News coming second (98 million), and New York Times third (92 million).
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