Your Media Business Will Not Be Saved
Joshua Topolsky

You fail to understand the biggest shift in media, the move from media agencies buying audiences not content.
The entire world of publishing was based on who you reached, both premium and niche publishing was supported by the specific and valuable audiences there. 
With audience buying you can reach niches and luxury audiences wherever they go. So the whole world of media becomes merely creating a trap to pull in the greatest number of eyeballs for the lowest price.
Either publishers need to work to fight for the idea that context matters ( it does) or they need to stop making the assumption nobody will pay with money for world class content.