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Outrage may be flowing toward Laurene Powell Jobs, the majority owner of the Atlantic, after news came on Thursday that the magazine laid off almost 20 percent of its staff. But she will not be the last billionaire owner of a major news outlet who will have to make hard decisions in the next few weeks.
Over the last decade, billionaires like Powell Jobs have picked up prestige media outlets and won respect from those who saw these deals as a form of civic leadership and public service. Not every publication could get bought by a billionaire, to be sure, …
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