Media credibility on the line

The present time is extremely difficult for private firms, as the recession and concurrent economic meltdown have taken a hefty toll on businesses. Moreover, media companies have not escaped the worsening trend, as most of them are seeing their revenues from sales as well as advertising dwindle. As a result of the crisis, some media groups in the country have been exercising not-so-legitimate pressure on the political system in a bid to find alternative sources of funding. However, such tactics may well backfire. The Greek public, which has been called upon to bear the brunt of the fiscal misery caused by decades of corruption and economic mismanagement, is extremely skeptical and angry. These media groups run the risk of finding the necessary funding but losing what is left of their credibility. Everybody knows that it is just as hard, if not harder, to regain one’s credibility than it is to lose it.

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