Rich people don't buy media companies because this is the best business in the world. Quite the opposite, most media companies are mediocre or lose money. They do this because of the political clout they get with the control of these media properties.

> They do this because of the political clout they get with the control of these media properties

Bezos bought the Post for clout. Ellison (and his investors) are buying Warner Brothers first and foremost to make money.