After four generations of the Graham family’s leadership, the Washington Post is sold to Amazon.com founder and chief executive Jeffrey Bezos. The price: $250 million cash.
This is the paper that broke the Watergate story … the paper of charismatic editor and J-F-K buddy Ben Bradlee. When Bradlee was in charge, the Post employed more than 400 reporters. I doubt they have that many now. The Wichita Eagle lists 12 metro reporters.
With the onslaught of the internet and the challenge of cable T-V news channels, newspapers have struggled the past few years. They no longer set the pace for news consumers, nor do they command the lions’ share of advertising dollars.
I still look forward to my coffee and my Saturday and Sunday morning newspaper.
We media people understand quite well that the information business has changed and continues to change rapidly. For several years newspaper owners have wrestled with the question: where do we fit in to this new information age?
Our thought for today is from Sir Robert Peel:
“Public opinion is a compound of folly, weakness, prejudice, wrong feeling, right feeling, obstinacy, and newspaper paragraphs.”