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The media business is very seductive and glamorous, and people and companies get involved in it for all kinds of non-economic reasons. One of the lessons the Dream Team teaches is that if you're focused strictly on economics, you have to un-seduce yourself and deglamourize where you allocate your time and capital.

Case in point: scientific publishing. Not seductive, not glamorous, but in the first six months of 2009 Elsevier, which is the medical and scientific publishing division of Reed Elsevier (NYSE:RUK), earned operating profits of 32%. And many of the journals Elsevier publishes are very expensive (they may have gotten too expensive, but that's another story). If you can convince people to pay a lot of money for your product, and you get to keep 32% of what they pay you, then you have a good business.

This article by Michael Clarke of the Scholarly Kitchen explains why scientific publishing is such a good business, so good that it has not suffered the upheavals that other forms of publishing have.

Source: Scientific Publishing: Not Seductive, Not Glamorous, But Very Profitable