Media mogul

Seems you don’t need to be the head of AOL Time Warner or Viacom to be a media mogul. Take Matt Drudge, founder of the Drudge Report, a news website which clears $800,000 a year on a shoestring budget — and two employees. That’s $400,000 of profit per employee. Not too shabby.

Drudge’s network has helped him routinely beat the big boys to the punch. In just the last few months, he broke the news of celebrity photographer Herb Ritts’s death and even scooped CNN when Walter Isaacson resigned as that broadcaster’s CEO.

You’d expect a no-frills operation like this to exact a price. “It seems like he’s awake 24 hours a day.” In fact, Drudge does sleep. And he isn’t exactly chained to his keyboard. “He swims on the beach every day and goes and has a burrito for lunch,” according to friend Lucianne Goldberg, a conservative talk-radio host.

How can he pull this off? Well, don’t forget that anonymous second fiddle in this one-man band, a Los Angeles-based reporter who’s always on call, keeping the news flowing 24/7. It’s all part of what WABC’s Boyce calls Drudge’s “theater of the mind.”

From Business 2.0.

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