Newspaper Datapoint of the Day

From Andrew Edgecliffe-Johnson:

The $5.6bn Rupert Murdoch’s News Corp paid in 2007 for Dow Jones, owner of the Wall Street Journal and several local papers, would now be sufficient to buy Gannett, the New York Times, McClatchy, Media General, Belo and Lee Enterprises, even at twice their current share prices.

Of course, Dow Jones included much more than just newspapers. And the New York Times, for one, is not for sale at any price, let alone its current (non-voting) share price. But this is definitely proof, if proof be needed, that the for-profit newspaper model seems to be irreparably broken.

(HT: Chittum)

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1 Response to Newspaper Datapoint of the Day

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