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Way Less Of A Future Than Radio
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Tina Brown's Daily Beast has given up on Newsweek and has sold it off to a digital news company for "an undisclosed amount," which couldn't be much. When was the last time Newsweek was even relevant? But with the bath being taken by the New York Times on the sale of the Boston Globe to Red Sox owner John Henry (there won't be any conflicts of interest in the sports section, surely) -- bought in 1993 for $1.1 billion, sold now for $70 million -- you shouldn't have any further questions about what print media are worth these days. (New York Times)
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