InNetflix was just getting into streaming, and you could only really watch baseball online. As dawns, traditional media empires worldwide are in panic mode, with even their golden goose live sports dying. Consumers have never had better choice at such a great price. What does this mean for everyday people and business interests alike?
A file picture shows a cameraman filming the anchor of Future TV station at a new studio in Sin al-Fil, east of Beirut.
The company had been the pillar of the Hariri family fortune. Lebanese experts said the Hariri establishment has entered a post-affluence stage. Sources said Hariri was paying the price of financial mismanagement within his business institutions as well as for political positions he has taken that were not consistent with Saudi orientations.
Rafik Hariri founded Future TV in as he was building tools for political influence. The station broadcast entertainment, cultural and political programmes while launching the careers of several media stars.
Since then, the channel has been broadcasting old programmes. Many employees had suffered years of delays and piecemeal payments of wages.
Al-Mustaqbal published its last print copy in January but continued as a news website. Rather, it is announcing the end of a stage in its journey, to be able to address the accumulated financial burdens and prepare for a new phase, looking forward to returning to work in the coming months, in a new style in line with the resources available.
The media sector in Lebanon is experiencing a prolonged crisis, mainly because of the cessation of internal and Arab political funding of the media, in addition to the emergence of electronic media and declining advertising revenues. Several institutions laid off workers and many well-established newspapers ceased publication, notably As-Safir newspaper at the end of because of financial difficulties after 42 years in operation.