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Every major news outlet gets purchased by some rich entity. WaPo by Bezos, Boston Globe by John Henry, Rupert Murdoch with WSJ... this is why it doesn't really
by seibelj 5y ago
Every major news outlet gets purchased by some rich entity. WaPo by Bezos, Boston Globe by John Henry, Rupert Murdoch with WSJ... this is why it doesn't really matter if they are money-losing operations. Their value for pushing narrative vastly exceeds their P&L
- arcticbull 5y agoI do agree, but this is particularly egregious. Like "Al Capone takes 20% stake in Chicago Tribune" egregious. Did they not notice the Sicilians when they were negotiating or...
- trimbo 5y agoMurdoch actually made his money in media. What makes you think the WSJ would be money-losing?
- seibelj 5y agoThey don't necessarily have to be, but if I was rich and buying a news operation, profitability is important but I would also want it to push the news that I want.