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Anorak | Washington Post sells for less than The Worcester Telegram & Gazette

Washington Post sells for less than The Worcester Telegram & Gazette

by | 6th, August 2013

**FILE** Reporters Bob Woodward, right, and Carl Bernstein, whose reporting of the Watergate case won a Pulitzer Prize, sit in the newsroom of the Washington Post, May 7, 1973. W. Mark Felt, a former FBI official claims he was "Deep Throat," the long-anonymous source who leaked secrets about President Nixon's Watergate coverup to The Washington Post, Vanity Fair reported Tuesday May 31, 2005. (AP Photo)

NEWSPAPER sales news:

Amazon.com Inc. Chief Executive Jeff Bezos is buying the Washington Post for $250 million …

Just three days ago the New York Times Co. sold the Boston Globe for $70 million, having paid $1.1 billion for it in 1993.

Mark Steyn’s recalls:

In 1999 The Worcester Telegram & Gazette (that’s in Massachusetts) sold for $295 million.

Fourteen years later, one of the media’s A-list titles – the establishment paper of the capital city, the one that took down a president and made Woodward, Bernstein and Ben Bradlee the Holy Trinity of American journalism’s First Church of Itself – can barely command 80 per cent of that price.

No other industry’s management is in quite such poignant inversion to its self-regard.

Maybe. But $250m sounds like a good price.

Photo: Reporters Bob Woodward, right, and Carl Bernstein, whose reporting of the Watergate case won a Pulitzer Prize, sit in the newsroom of the Washington Post, May 7, 1973. 



Posted: 6th, August 2013 | In: Reviews Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink