A recent comparison of the New York Times with South African media behemoth, Naspers, by Michael Moritz, the chairman of Sequoia Capital, deserves comment. Not only for the cynical and superficial nature of his argument, but also for what it exposes about the general low quality of local journalism.
Over the past thirty odd years there has been a rapid acceleration of convergence in the global media industry. In 1983, 90% of American media was owned by 50 companies. By 2011 the same 90% was owned by 6 conglomerates. A trend that is reflected in most countries around the world. Today Naspers is the dominant force in almost every aspect of the South African media industry.