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.


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.

  2. donal o'donovan says:

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

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