Would a Trump loss in November be bad for the media business?

Early in his presidency, Donald Trump insisted that he was the best thing that could happen to The New York Times and other media outlets. Since then, he has often repeated that when he is done being president — whether that’s in January or four years from now — the media will miss him and they will suffer without his presence.

Trump certainly creates plenty of news, but make no mistake, the media will carry on regardless of who is president come next year. Journalism, particularly local journalism, will continue...