Does it matter who owns and funds the media? As journalists and management consultants set off in search of new business models, there's a pressing need to understand anew the economic underpinnings of journalism and its role in democratic societies. How Media Ownership Matters provides a fresh approach to understanding news media power, moving beyond the typical emphasis on market concentration or media moguls. Through a comparative analysis of the US, Sweden, and France, as well as interviews of news executives and editors and an original collection of industry data, this book maps and analyzes four ownership models: market, private, civil society, and public. Highlighting the effects of organizational logics, funding, and target audiences on the content of news, the authors identify both the strengths and weaknesses various forms of ownership have in facilitating journalism that meets the democratic ideals of reasoned, critical, and inclusive public debate. Ultimately, How Media Ownership Matters provides a roadmap to understanding how variable forms of ownership are shaping the future of journalism and democracy.