How Media Moguls Shape News: Lessons from Australia's Newspaper Deals

Ever wondered how big companies buying newspapers affects what you read? Let's look at Australia's news game over recent years. Between 2016 and 2019, there were three major newspaper acquisitions. News Corp, Nine Entertainment, and a duo named Antony Catalano and Alex Waislitz each bought their share of the press. Using a clever tactic called synthetic difference-in-differences, researchers found that these mergers had a significant impact on the political slant of the newspapers.News Corp's 2016 spree pushed their papers further to the right, but Nine Entertainment and the Catalano-Waislitz duo did the opposite with their acquisitions. The takeaway? Who owns the news matters a lot. It can sway what we read and how we see the world. This is especially crucial in today's media landscape where ownership is getting more concentrated. So, next time you pick up a paper, think about who's calling the shots behind the scenes.