What’s The News?
President Donald Trump’s recent tweet on Jan. 26 slammed the latest layoffs at BuzzFeed and HuffPost saying they are the result of “fake news and bad journalism” and predicted that other outlets may suffer the same fate.
What Does This Mean?
“‘Ax falls quickly at BuzzFeed and HuffPost!’ Headline New York Post. Fake news and bad journalism have caused a big downturn. Sadly, many others will follow. The people want the Truth!” the president tweeted.
This week layoffs at Buzzfeed, Verizon Media Group and newspaper owned by Gannett has left over 1000 journalists and media professionals out of work. Buzzfeed announced that roughly 15 percent of its staff would be dismissed as the company attempts to reach a sustainable growth model, while VMG cut 7 percent of the workforce.
Why Does It Matter?
The Bigger Market Picture: Buzzfeed recently came under scrutiny after reporting that Trump guided his longtime lawyer Michael Cohen to lie to Congress about a potential real estate deal in Moscow.
The story prompted a rare step of issuing a brief statement by the office of Special Counsel Robert Mueller saying the article was “not accurate”.
While it is no secret that the relationship President Trump shares with mainstream media outlets has been at odds. Even before he was elected to the presidency, Trump routinely indicted numerous media outlets — from The New York Times to CNN — of being “fake news”.
Since Trump took office, conventional media has churned out overwhelmingly negative coverage. According to the Media Research Center, the overall tone of coverage on Trump on network television remained at 90 percent negative in 2018, the same level measured in 2017.
According to the president, the recent job cuts at news organizations – which have left around 1,000 journalists jobless, according to reports — were an indication that he was accurate in his assessment of fake news and faulty journalism.