Today the Philly papers sold for $55 million.
In 2006 the same group was purchased by investors for $515 million and later rescued from bankruptcy in 2010 for $139 million.
For comparison’s sake, Draw Something, worth nothing six weeks ago, was just purchased for $200 million.
I don’t need to labor the point, but one of the country’s largest media organizations is worth a quarter the price of an effing Pictionary app. So for you, the powerful media executives who
don’t read this blog, another lesson in the ever-shrinking value of content.