These days, media companies are more inclined towards international news compared to regional news. Despite having some significance, I think foreign news is less important than the news from the local area. Hence I agree that this type of news should receive more compensation.
Firstly, coverage of world news is also important for any news provider, because it is crucial for the people to know how other countries’ events and affairs are fairing. These developments impact people’s lives in an indirect way, and also it is important to be aware of the world around them to be more understanding about their own country’s foreign policy. For instance, they need to be knowledgeable about their nation’s trade policy to pursue a more successful business.
However, on the other hand, presentation of local happenings is more important to the lives of the public. These types of news affect them directly; be it about fashion, job openings, a natural emergency or a report of crime incidence in the region. As these events are occurring to the proximity of local people, they impact their lives significantly. For example, a timely report of localized flooding can be a matter of life and death for the affected citizens. Additionally, publications of job vacancies can be highly beneficial to local unemployed members of the public. They would be able to earn a living, thanks to an article they read in the newspaper about hiring in their locality.
In a nutshell, although coverage of international news can be useful to the people in some ways, regional news is more crucial and impactful to people’s lives.Therefore, media houses should allocate the funds between these two accordingly.