Nonstop media mergers benefit a few billionaires

MediaNews Florida

BillionairesWhile the interest of conservative Koch Brothers in eight Tribune Company newspapers seems DOA media company mergers continue: Jeff Bezos, founder of Amazon announced Monday he “agreed to acquire The Washington Post for $250 million.”

Bezos is a billionaire, worth over $25 billion according to Forbes.

Last week billionaire Boston Red Sox owner John Henry bought the Boston Globe for $70 million dollars, an amount that Ken Doctor writing for the Nieman Journalism Lab called a “song.”

In early June Andrew Beujon at the Poynter.org  wrote that Gannett Company “will buy Belo Corp for about $1.5 billion and assume $715 million of Belo’s existing debt.”

“The acquisition nearly doubles Gannett’s current broadcast portfolio from 23 to 43 stations,” the companies say in a press release,” Beujon added.

Beujon wrote that, “many of stations involved in this merger are significant forces in their communities,” adding that “this merger is…

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