April 2, 2012

Newspapers and Draw Something

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.

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