Newspapers Are Billionaires' Latest Trophies

wochit business
August 06, 2013 AT 1:06 PM
In a sign of the weakening status of print media, The Washington Post, once worth billions of dollars will be sold for just $250 million to Amazon CEO Jeff Bezos. This deal comes on the heals of Red SOx owner John Henry purchase of The Boston Globe for $70 million and Newsweek's sale to colver $40 million in pensions.