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Re Jeff Bezos buying The Washington Post for $250 million, I mentioned here yesterday that 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.   



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