What business model works in media?

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On a warm spring day outside the University of Chicago’s Gleacher Center, a group of MBA students munched on sandwiches — and compared their companies’ profit margins.

“Six percent,” said one.

“Four percent,” offered another.

After making our way around the circle in single or low double digits, all eyes turned to me.

“Rob, how much does the Chicago Tribune make?”

“Twenty-six percent,” I said, sheepishly.

The group, all business people and MBA

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