Newspapers in the US were absolutely valued for their ability to generate profits. Local classified advertising revenue alone was enough that throughout the 80s

Newspapers in the US were absolutely valued for their ability to generate profits. Local classified advertising revenue alone was enough that throughout the 80s and early 90s it was a very lucrative business to be in. They're also tools that can shape or sway the public opinion. And not all markets have been profitable: in the UK, for example, the desire for political influence generated so many competing national newspapers that most of them lost money.