Yep. All ad money went to zuck, brin, and page.
Extremely large quantities of money have been removed from the business models of traditional, worker-employing journalism and redirected to Google, Facebook etc. to the point where I don't understand how any of the traditional old school businesses remain functioning at all. Hell, Craigslist struggles, and Craigslist was an early wave of the internet hurting what newspapers do.
"Yep. All ad money went to zuck, brin, and page" is glib, but does not deserve this degree of downvoting. In important ways, it's the truth.
I'm sure that ad spending has shifted online, but traditional media companies have been losing audience before Google launched News and Facebook started to dominate. There's plenty to blame, and the web as a whole probably played a part, but I'm not sure it's the primary driver. Before there were online alternatives, there was TV or just not getting "the news" at all. Relying on not having competition feels like a bad idea with regards to being a sustainable business.