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So maybe the best CMS in the world saves you 10% in costs over an averagely competent CMS.

It's not really a material difference in terms of sustainability.

You are correct in stating that established media companies are struggling because of their cost structures. But those cost structures are mostly salaries (and capital investments in buildings etc) rather than something that a magic CMS can fix.

Put it like this: when a "new media journalist" uses their mobile phone to take a picture for their story (instead of a staff photographer) that has made a bigger difference in terms of cost structure than the worlds-best CMS can make.