After decades of shrinking revenues, and an increasing expectation among consumers that journalism should be free, the global media industry has reached a crisis point. As legacy news outlets shut down or lay off staff, misinformation and conspiracy theories run rampant, blurring the line between fantasy and reality. Trust in our institutions of governance continues to decline, fueling an alarming rise in extremism and political violence across previously stable democracies. In the Global South, the impact of journalism’s decline has been even more striking, with the rise of a new generation of autocrats skilled in manipulating the online conversation to suit their consolidation of power.