[W]hatever steps an old brand like the Post needs to take to succeed in the long term, they have nothing to do with the steps that will produce the best-looking financial statement three months from now. That means private ownership, most likely by idiosyncratic individuals willing to take risks on ideas that might fail.
Henry’s purchase of the Globe fits this model best, as he has deep roots in the Boston area (for example, he owns the Boston Red Sox). But Bezos’ move—and even the potential purchase of Tribune newspapers by the Koch brothers—is close enough for a 21st-century media landscape. These transactions should be seen not so much as the end of an era, but as a necessary recycling of control. A business that’s always somewhat depended on bigwigs more interested in challenge and prestige than pure profit maximization is naturally going to need some new bigwigs once in a while.
Nieman Lab also reflects on the trend of private ownership of news companies and digs into The Newsonomics of Jeff Bezos Buying the Washington Post.
(Source: Slate)
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