Posted on 08/07/2013 1:17:06 PM PDT by upbeat5
In the past week, The New York Times Co. announced it was selling the Boston Globe to Boston Red Sox owner John W. Henry, and Washington Post Chairman Donald Graham announced Amazon.com founder Jeff Bezos was buying the paper that Graham's family has run for decades.
Both papers went cheap. The Times bought the Globe in 1993 for $1.1 billion and is now selling it for $70 million. The price tag on the Post was just $250 million.
The combined $320 million market value of these two big-city dailies is about as much as the federal government now spends in 45 minutes.
That comparison is telling. The highest purpose of the press is to defend liberty against over-reaching government. In recent decades, the press has shrunk, while government has grown.
Both the Post and the Globe were liberal publications that too often worked against the highest purpose of journalism by taking the side of bigger government against individual liberty. Both, for example, editorially supported Obamacare. Nonetheless, the declining market value of these newspapers — and of American newspapers in general — points to a genuine problem for our country.
(Excerpt) Read more at cnsnews.com ...
Stunning numbers...great post....
“That means there were more people on that government health care program [Medicaid] for at least a month than the combined number (69,721,000) of newspapers put into circulation daily and people visiting newspaper websites daily.
...and it continues to work - given 0baMao's dismal "record" in term one, a ham sandwich should have been able to defeat him.
I mourn my ability to post and see ping’d responses....today...
You underestimate the power of the GOPe...
Sounds like a cause for celebration to me.
When is the last time the MSM did that?
The numbers were not adjusted for inflation.
$1.1 B in 1993 is $1.78 B today.
The Globe sold for 6.3 % of its original price.
Part of the reason for their demise is that many people are leaving media with long sentences and structured paragraphs for short bursts of emotion-laden poorly thought out babblings. Many people get all the information that they will ever get from Twitter twittings.
To talk about depth of knowledge with the new media would be ludicrous. It doesn’t even deserve the word “superficial.”
People read 140 characters of someone’s mouth droppings and they think they know something. They retwit it and soon millions are babbling about the latest twittering. This passes for knowledge. Unsurprisingly, the people who do the most twittering voted for 0bama in mass.
[I know it’s tweets, but I have a lot of respect for birds.]
The combined $320 million market value of these two big-city dailies [partisan shill sheets] is about as much as the federal government now spends in 45 minutes.
If John Henry wants to throw money away, I’m right here and quite willing to take some of the burden off his shoulders.
Probably when the Boston Globe referred to Jimmy’s Carter’s economic policy for 1980 as “More Mush From the Wimp.”
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