The accepted wisdom is that newspapers are dying assets. Some might even have negative value, because of the costs involved in shutting them down. The News Corporation (ASX: NWS)-owned The Australian, for example, makes losses, although don’t expect Rupert Murdoch to close it. He’s already said he won’t.
Internationally, new proprietors seem to think newspapers are still worth something. Jeff Bezos, the founder of Amazon, paid US$250m for the loss-making Washington Post in 2013.