What on the balance sheet of such a publication could possibly be worth half a billion?
Reporters are now commodities.
Distribution is a commodity.
Newsprint is optional due to the Web.
Advertisers are moving buys online.
Classifieds are hugely moving online.
Readership is down.
This is horizontal monopolization, not cost-saving vertical integration.
I think Rupert’s paying too much for Newsday. I suggest no one get in the way of GraveDancer Zell when he heads to the bank to cash his check.
I think Rupert paid too much for Dow Jones. As a former Dow Jones stockholder, I am glad he did. I, too ran to the bank to cash my check.