Newspaper Publishers Want Congress to Bail Them Out of Bad Investments
11th July 2017
It’s the sort of brazen move that might ordinarily trigger a front-page news story or an outraged editorial—a bunch of very rich individuals asking Congress to write them a law that would give them better negotiating power against other rich individuals.
Yet in this case, the rich individuals wanting special treatment are the newspaper owners themselves. The Washington Post owner Jeff Bezos (worth $83.9 billion, according to the Bloomberg Billionaire’s Index), The New York Times largest shareholder Carlos Slim (worth $61.1 billion), and Buffalo News owner Warren Buffett ($76.9 billion), publicly pleading poverty, are asking Congress for a helping hand in their negotiations with Google, controlled by Sergey Brin ($45.6 billion) and Larry Page ($46.8 billion).
And every damned one of them is a Democrat. What are the odds?