Quotes from an excellent article (read it here): Media pomposity is exposed as fakery. Millions of people see through the ruse. ... Truth be told, as their financial positions sink into dire red ink, press operations are trapped. Why? Because they are partners with the high-level criminals whose activities are the very stories the public wants to know about. Reporting on these crimes in great depth, day after day, would resuscitate the newspapers and broadcast networks. ...
You could talk to the publisher of the New York Times and present him with an ironclad plan for pulling his paper out of its deep financial hole, based on covering TRUE STORIES, and you would find no joy, because he would rather go down with the ship than go up against the Matrix. Expose [reality] down to the core, and people would buy newspapers off the rack like they buy coffee and beer and video games and cell phones and gasoline and underwear and toilet paper ... The Times would have to schedule extra press runs just to keep up with the demand. Its financial bottom line would soon look like Christmas.
Think of major media as a ship. In full view of the passengers, the captain has just steered it into a shore of high rocks. The craft is beginning to tilt, and it’s taking on water. As the passengers scramble to safety on the beach, the captain is yelling, “Don’t leave, come back, everything is all right, I didn’t do anything wrong, it’s your fault, you’re too stupid to understand the correct principles of navigation!” Translation: “I’m committing suicide. Go down with me.”