Billionaires' Newspaper Fixation

Bangalore: Jeff Bezos, the founder and CEO of Amazon.com purchased ‘Washington Post’ (iconic and oldest newspaper in the world) for $250-million. Considering this, Vanita Kohli-Khandekar from ‘Rediff’ reports that why billionaires are buying a medium that quite seems unimportant.

However businessmen like John Henry, the founder of Boston Red Sox also bought ‘The Boston Globe’ and its websites for $70 million.

World’s most successful investor and philanthropist, Warren Buffett’s company Berkshire Hathaway bought 28 newspapers for $344 million and still continues to buy.

The reason for these big businessmen to flaunt their love for print media is their desire to contribute for the iconic newspapers to survive.

However, there might not be everyone who would love print media but their craze for buying newspapers tells two things:

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