Smart Businessmen Still Buy Newspapers

NY Times from 1960. (Flickr Creative Commons: The U.S. National Archives)

The New York Times recently reported that New York City mayor Michael Bloomberg might buy The Financial Times.  Why are billionaires thinking of investing in newspapers, the dying breed of media?  AdAge suggests it may be because several papers (including The New York Times) are doing quite well.  The piece also says that struggling papers don’t dissuade shrewd buyers either, as evidenced by Russian oligarch Alexander Lebedev’s purchase of The Independent.  The AdAge compiled graphics showing some of the current winning and losing papers.

About Michael Juliani

Michael Juliani is a senior studying Print and Digital Journalism at USC's Annenberg School for Communication and Journalism. He's a senior news editor and executive producer for Neon Tommy and an associate editor and contributor for the Online Journalism Review. His writing has appeared in the Los Angeles Times and the Huffington Post, among other places.