Chris Hughes, who co-founded Facebook, isn't one of these hands-off billionaires: He's currently the publisher and editor-in-chief of The New Republic after purchasing the magazine in 2012.
Aaron Kushner is a greeting card entrepreneur and principal owner of the Orange County Register, a newspaper that he purchased in July 2012.
Jeff Bezos, founder and CEO of Amazon, purchased The Washington Post for $250 million in cash on Monday. "We'll have to invent, which means we'll have to experiment," he said in a letter to staff.
Granted, Rupert Murdoch was alrealdy a media billionaire when he bought the Wall Street Journal -- but the Journal was no less a trophy for the founder, chairman and CEO of News Corp.
Barry Diller is the chairman and senior executive of IAC/InterActiveCorp, which sold Newsweek to IBT Media after merging with Sidney Harman.
Sidney Harman was an engineer and businessman who bought Newsweek two days before he turned 92 for $1. He died the same year.
Sam Zell purchased the Chicago Tribune, the Los Angeles Times, and other media assets in 2007 -- though he primarily made his money in real estate.
Developer Douglas F. Manchester -- an anti-tax Republican -- owns the San Diego Union Tribune.
Boston Red Sox owner John W. Henry just purchased the Boston Globe on Saturday for around $70 million.
Jared Kushner, son of a real estate mogul and husband to Donald Trump's daughter Ivanka, bought the New York Observer in July 2006 for $10 million.
