Bloomberg also stated that the valuation was high. Then there's only like three pre eminent newspapers left.
But why would anyone want to own a newspaper anyway? This is not business, it's ego. Antidepressants? Because bears must be depressed?
Why not. These are pieces of Americana on a grand scale. Anti depressants because you seem very negative. It's okay to be short or bearish, but don't try to extrapolate the view from every data point.
If AMZN shares decline 90% he is still a billionaire. If he wants to buy a company with a purchase price of less than 1% of his net worth and it costs him say $100 million a year to cover its losses the calculation of increased political clout is reasonable. Last week he was just another billionaire now he becomes one of the most influential people in the world. Like I said ... it went cheap. Only twice the price of a piece of high end art!
He is touring his trophy facility this week. I am still going with this: I think WPO just has a cool, human interest factor to it. Maybe a little bit of throw-back Citizen Kane newspaper baron. Jeffrey Bezos, Washington Postâs next owner, aims for a new âgolden eraâ at the newspaper http://www.washingtonpost.com/lifes...c00b60-13f6-11e3-b182-1b3bb2eb474c_story.html He wants to experiment and says: âIf we figure out a new golden era at The Post . . . that will be due to the ingenuity and inventiveness and experimentation of the team at The Post,â he said. âIâll be there with advice from a distance. If we solve that problem, I wonât deserve credit for it.â He says he is skeptical of a model that is based around advertising. I wonder why? Today readers of newspapers are worth more than readers of online content (ad revenue per reader).
Newspapers are so out of fashion, the internet and social networking are in.... He should have bought a TV channel if he wanted to express his views...