At a Massachusetts Newspaper Publishers Association event on October 1, 2024, held at The Boston Globe, Senator Elizabeth Warren spoke passionately about the importance of preserving local journalism and addressing the growing power of tech monopolies. Warren reflected on the foundational principles of America, emphasizing the significance of checks and balances to prevent the rise of centralized control. She drew parallels between those principles and the current state of the news industry, where digital giants like Meta and Google dominate content distribution.
Warren described the tech companies’ control over news distribution as a modern-day “newsboy” system, but with a twist—today’s “newsboys” wield monopolistic power. “Instead of printing and distributing papers independently, news outlets now face a duopoly in order to get their content out,” she remarked. She underscored the economic strain on local news, citing estimates that the industry is owed between $10 to $13 billion annually for its content, for which it receives little compensation.
Warren warned that the continued closure of local newspapers is not just an economic problem but a threat to democracy. However, she expressed hope, stating that the solutions are clear: stronger enforcement of antitrust laws and breaking up tech monopolies. “We know how to fix this,” Warren said, calling for action to restore competition and protect the future of local journalism.