‘The Atlantic’ Is Losing Tens of Millions of Dollars and Heading Toward Complete Insolvency
A top establishment propaganda rag, The Atlantic, is going bankrupt and never expected to obtain profitability again, with their readership drying up after President Donald Trump’s ouster from the White House.
NBC News is reporting about the financial insolvency of the formerly-influential magazine, noting that it has lost tens of millions of dollars over the past couple years. Despite the hemorrhaging of funds, Atlantic chief executive Nicholas Thompson continues to offer hopium, emerging as a Baghdad Bob of the fake news.
“We are on a path to profitability, or sustainability,” Thompson said in an interview. “Our losses have narrowed every year. We’re vastly ahead of where we thought we would be.”
The boom for the magazine was caused entirely by the rise of President Trump and the COVID-19 pandemic. With Trump booted from office and pandemic fear waning, that has put the magazine on a crash course with its own insolvency. Thompson’s lofty public goals suggest that the magazine is not being run by individuals who are moored in reality.
“I never really think about 1 million subscribers. I think about $50 million in subscriber revenue,” said Thompson, who obtained the role of CEO in February. “There are other ways to get to $50 million … 800,000 subscribers who pay $62.50, 500,000 subscribers who pay $100.”
“When I interviewed for this job, [wealthy benefactor Laurene Powell Jobs] said, ‘I want the place to be sustainable,’” he added. “I made it clear that I would do as much as I could to get us toward sustainability.”
Big League Politics has reported on how the fake news industry is self-immolating after destroying their own credibility by publishing offensive left-wing drivel:
“The Huffington Post announced the firing of 47 employees in internal communications at the media company on Tuesday, sending members of the establishment media into a flurry over supposed erosion of the news industry.
The Huffington Post’s union described itself as “devastated” following the firings, which terminated the employment of nearly 30% of the Huffington Post’s US employees. The layoffs were finalized after HuffPost completed a merger with Buzzfeed, another left-wing news company that rose to prominence in the last decade…
The Huffington Post has generally declined as traditional corporate news entities such as MSNBC, CNN and the Washington Post have staked out dominance of the left-wing news industry. The website’s business model was designed with a more overt partisan affiliation, initially taking off in the early 2010’s before the corporate news media lost any semblance of impartiality and integrity.
In an ironic twist, members of the mainstream media’s figurative clubhouse appeared more troubled by the dozens of layoffs at HuffPost than there were over the approximately 10,000 layoffs necessitated by President Joe Biden’s termination of Keystone XL pipeline construction.
In sadistic fashion, some of the employees of the media organization were left hanging over their employment, with firings only announced over email after it was announced that many employees would be given the pink slip.”
The fake news destroyed itself by joining in the color revolution coup against Trump, who was literally the lifeblood of the industry. Now, having only themselves to blame, the market is taking out the trash. Soon, their rich benefactors will pull the plug, and it will be lights out for the leftist propaganda industry.