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Voice of America may have been useful in the former USSR whose citizens did not have direct access to the western media. Back then the Voice of America and its European analogs were the only alternative to the official propaganda. These days Russians have internet access and the Voice of America is just one more media outlet with a minuscule audience. Spending money on it would not change this.

While the Russian's do have internet, most of them don't speak English and can't consume any English media.

At current funding levels Voice of America does reach 187.7 million people weekly.

Western media on it's own also doesn't finance investigative journalists who work abroad. It doesn't even do well at financing investigative jouranlists that operate in the West.

If you look at a country like Iran, investigative journalism that makes the local population more aware of specific cases of corruption by their local politians won't be financed by the standard Western media. At the same time it can reduce the power of Iranian hardliners.
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