Another one bites the dust

[silverfaun]

Another ideologically left groupthink media venture has gone bust with the founder pulling his dough.

Wood also bankrolls the Aus version of the Guardian, the love of the left and the favourite go to for the ABC.

Launching these papers is a lesson in futility if they can't relate to the broader readers and not the narrow left base they target.

Wotif founder Graeme Wood to close Global Mail news site

THE staff of The Global Mail is seeking new philanthropist backers in order to keep the news website going after original founder Graeme Wood this week pulled his funding from the site.

Wood told TGM's approximately 20 staff yesterday that he was unable to continue supporting the venture after February 20 but that they were free to seek other investors.

"This allows us to pursue ambitious plans for the future," TGM said in a statement.

"With the support of key figures in media globally, The Global Mail team is exploring various models - both philanthropic and commercial.

"Accordingly, the management of TGM is seeking expressions of interest from

potential partners."

http://www.theaustralian.com.au/media/wotif-founder-graeme-wood-to-close-global-mail-news-site/story...

[boris1gary]

so this term "groupthink", I am unfamiliar with it - is it the opposite to the right wing's "individualthink". Kind of like putting the interests of the few before the many.? 

[silverfaun]

How come these billionaires don't see the writing on the wall when they pour their millions into left wing ideologically driven media.

Hasn't the Fairfax, spectacular imminent demise, shown them anything? that the wider community do not want to read what they print.

[lakeland27]

 murdoch keeps losing on print media with his rather sad newspapers, so who's the fool ? his shareholders would like him to get out but he continues to give it away.  its  virtually free in the cities.

[boris1gary]

---

@silverfaun wrote:

How come these billionaires don't see the writing on the wall when they pour their millions into left wing ideologically driven media.

Hasn't the Fairfax, spectacular imminent demise, shown them anything? that the wider community do not want to read what they print.

---

don't know, maybe they are to busy "groupthinking".

[just_me_karen]

Lmao + haha + LOL + 😄 that current right wing neo Libs have ANY version of think...except maybe "toldwhattothink"

[freshwater-2]

Hasn't the Fairfax, spectacular imminent demise, shown them anything? that the wider community do not want to read what they print.

You fail to mention that there has been a spectacular fall in the sales of newspapers in the industrialised  English speaking

countries worldwide. ....including good old Australia where the major print media has declined in the double digits. 

The competition from the digital media is cited in all cases....not the content.

[freakiness]

---

@silverfaun wrote:

How come these billionaires don't see the writing on the wall when they pour their millions into left wing ideologically driven media.

Hasn't the Fairfax, spectacular imminent demise, shown them anything? that the wider community do not want to read what they print.

---

The Murdoch News of the World was even more spectacular in it's demise

[lakeland27]

one could ask the same of ginas sponsorship of the bolt report. it loses money.

[spotweldersfriend]

Where's the Daily Mirror of Sydney or The News of Adelaide?