http://blog.reddit.com/2013/08/reddit-myth-busters_6.html#in...

> Then in 2012, reddit was spun out into a re-incorporated independent entity with its own board and control of its own finances, hiring a new CEO and bringing back co-founder Alexis Ohanian to serve on the board.

And from just below that:

> reddit has 3 sets of shareholders: The largest shareholder is still Advance Publications. The second-largest set of shareholders are reddit employees. In the spin-out that occurred in early 2012, Advance voluntarily reduced its sole ownership to that of a partial owner in order to put ownership in the hands of current and future employees.

So, not sole ownership by Conde Nast or it's parent corporation, and an independent board and management.

Now:

> There are lots of stories removed and the justifications given are rather weak. It's either personal politics or they're taking bribes.

Or the stories are shitty and people refuse to acknowledge that fact. Or maybe just politics. Or some reasons neither you nor I have managed to figure out. Which is why I asked for evidence of an assertion that there's bribery going on, because it's not obvious that's what's going on to a non-conspiratorially minded person.

> Whatever it is, the moderators are abusing their authority which I don't seem to recall anyone agreeing to.

It's a privately run website. You agree to the moderation system by deciding to use reddit. If you don't like how the company chooses to manage things (i.e., through moderators) then stop using reddit.

I believe that nevitably, without strong leadership, a subreddit (or insert any other internet community) will fall to image macros, memes, and internet raging. And that's because the masses upvote that content.

But maybe an appointed moderator is what the subreddit needs, even if that mod isn't what it deserves.