Richard Mellon Scaife loses roughly 20 million bucks a year on the Pittsburgh Tribune-Review. Rupert Murdoch loses, by his own estimation, between $30 million and $50 million a year on the New York Post. Ditto Sun Myung Moon and The Washington Times. None of these are remotely the kind of newspaper that would give anyone pride of ownership or serve to manifest a sense of civic duty. So why do they do it? Because the rest of the world doesn't know any better than to take them seriously.
Read the whole Altercation here.