Slim Pickings

Rich people like owning newspapers. Carlos Slim, Mexican telecoms gazillionaire, has put more money into the New York Times, and Alexander Lebedev, the wealthy Russian, has bought the London Evening Standard. Nice piece in the Economist looking at this and the problems at various US newspapers. Is this the worst fate that can face newspapers – being owned by rich people? Rich foreigners? Rich foreign former intelligence officers? I suspect a few British intelligence officers wish they had done well enough to own newspapers of their own; perhaps a few have done.

 

Advertisements

2 Responses to Slim Pickings

  1. Donal O'Donovan says:

    According to Ireland’s Sunday Business Post one set of wealthy foreigners are trying to move in the opposite direction, after sustaining some staggering losses on their media investments. That said i can’t see either O’Reilly or O’Brien getting out of the news business altogether.

    http://www.sbpost.ie/

  2. donal o'donovan says:

    the sunday business post in ireland http://www.sbpost.ie has an article suggesting even rich men can only sustain their interest in loss making media ventures for so long.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: