Can Billionaires Save the American Newspaper?

By: Lawrence Delevingne | CNBC

Newspapers can seem like a terrible investment. Circulation and advertising revenues have crashed as the Internet has surged. Staffs have been cut, slimming the volume and depth of coverage. On Wednesday, for example, The New York Times said it was cutting about 100 newsroom jobs, as well positions from its editorial and business operations. And small gains from online ads and other business-side experiments are still nowhere near to making up the revenues lost from print ads and classifieds.