…from other rich lefty Ruling Class members! Oh no! Now the paper will be biased!
But don’t you know that Amazon is the Evil Empire? Except when Facebook or Google is.
I give it five years, max, before it gets sold for half-price again.
The fastest way to become a millionaire is to be a billionaire and buy a newspaper..
It is not that the newspaper business loses money. It is that the incredible growth and profits demanded by Wall Street and Wall Street’s routine demand to reduce the work force (which actually is an overt comment by most stock analysts) for publically traded companies does not suit the newspaper business.
Tidy profits can be managed, but personnel tend to be at the core of the product provided. Since stock growth cannot be guaranteed to be double digit year over year, and personnel cannot be just routinely laid off each quarter as the investment bankers desire, newspapers often disappoint investors.
Bringing the newspaper private is the best move. Money can be made, workers can be protected.
I read somewhere this morning that the price several decades ago would have been the equivalent of 5x what Bezos paid for it. The NY Times just sold the Boston Globe and a couple of other smaller papers for approx. the same amount. That must say something about the value of the WaPO franchise.
Unlike the Wall Street Journal and Fox News, owned by Mr. Murdoch.
Which I have never ever criticized.
Well, I just wanted to make it clear that there is also a rich righty ruling class.
This “ruling class” talk sounds kind of commie to me, so I wanted to clarify that I am not a commie.
Read “What’s Wrong with the World” by Chesterton. One need not be a commie to recognize the existence of Hudge and Gudge.
That could be why I have repeatedly said that the issue is not left vs right but our Ruling Class vs. the rest of us.
But, he’s never run a newspaper before! EEEK! Go watch Citizen Kane. It’s fiction, this is no more important than it is.