Why Do Billionaires Decide to Buy Newspapers (and Why Should We Be Happy When They Do)?


In the post-disaggregation era of local news, several individual newspapers have been purchased by very wealthy men, including the Minneapolis Star Tribune, The Boston Globe, the Los Angeles Times, the Las Vegas Review-Journal, and The Washington Post.

Save for Las Vegas’ Sheldon Adelson, these billionaires purchased newspapers less because they view them as profitable economic investments than out of the same sense of civic mindedness that leads them to prop up ballets, symphonies, and art museums.

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