Quote:
Originally Posted by Adder
One of our (two) local papers is owned by a hedge fund. Yeah, just a little side vanity project for them.  |
Somebody still makes buggy whips. And somebody provides financing for that entity. If the financials work for some reason, or a paper happens to own undervalued assets, a fund will of course invest in it. But is investing in newspapers generally a good idea? No. This is reflected in the bargain basement price Bezos paid for WaPo, and the decrease in the NYTimes' value. The Journal is an outlier. Niche paper.
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