Business

As US newspapers slide toward abyss, a bidding war breaks out

Even as US newspapers sink toward an abyss, an unusual bidding war has broken out for a major chain, pitting hedge fund operators against civic-minded billionaires seeking to promote a nonprofit model for the struggling industry.

Internet

Facebook pledges $1 bn for news, defends Australia blackout

Facebook on Wednesday pledged to invest at least $1 billion to support journalism over the next three years as the social media giant defended its handling of a dispute with Australia over payments to media organizations.

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