CEO of Amazon buys the Washington Post for his own account...
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Posted 05 August 2013 - 06:43 PM
I can tell you those of us in the DC metro area were caught off guard by this and I think it will take most of us a while to sort out our feelings. I understand Katharine Weymouth
has been asked to stay at least for now.
Posted 07 August 2013 - 09:51 AM
I have been intrigued how generally positive the response has been from industry insiders. Chris Cillizza's The future of the Washington Post — in 2 tweets seems pretty typical. Here are the two tweets:
The first came from James Bennet, editor-in-chief of the Atlantic.
Hard not to feel sad about the Graham era passing, harder not to feel excited about the new possibilities for the Post.
The second came from Don Van Natta Jr., formerly of the New York Times and now an ESPN guy.
Jeff Bezos ushered the retail store into the 21st century. Maybe he can do the same for the newspaper.
First of all, we are big fans of both James and Don. Second, both of their tweets point to the future while not forgetting the past.
What the Graham family has done for the Post — and for journalism — is a legacy that will never be forgotten. What Jeff Bezos has done for e-commerce is equally groundbreaking and has obvious and interesting corollaries to the generating and distribution of journalistic content. (Henry Blodget, the editor of Business Insider, another media product in which Bezos has a major stake, had a smart take on the similarities between what Bezos does at Amazon and what journalism aims to do.)
Everyone knows that the journalism business is changing. The sale of the Post is one of the most concrete examples of how — and how much. But, change can be — and often is — a good thing. And, like James and Don, we are excited to see what the future holds.
Posted 07 August 2013 - 02:42 PM
I was struck at how little brand-name papers like the Post ($250 million) and Boston Globe ($70 million -- down from $1.1 billion in 1993!) went for. I'm also struck by how little revenue they receive in online advertising. According to what I've read, Bezos did his homework, but also did so quickly -- only a couple months for what is an enormous news publishing company. I think it will be very interesting to see what happens.
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