Billionaires Buying Papers and the Future of Photojournalism
In the space of a few days, two major newspapers have been sold from their corporate entities to billionaires. On August 3, The New York Times Co agreed to sell The Boston Globe to John Henry, the owner of the Boston Red Sox, for a pittance of $70M. And on August 5, Amazon founder Jeff Bezos agreed to buy the Washington Post for $250M.
Earlier in the year, billionaire industrialists Charles and David Koch, investigated buying the Tribune Company, which operates the Los Angles Times and Chicago Tribune.
