Here are a few additional thoughts on the Washington Post and Jeff Bezos
This, in my opinion, is close to the best possible scenario under the circumstances. Here’s what was going to happen otherwise…. The Post was going to keep making cuts in an effort to turn a profit. The resulting loss in quality would continue to drive down circulation as well as the value of the asset (i.e. The Post) into a death spiral until it was sold for $1 plus an assumption of debt, like Newsweek. That hasn’t worked out so well.
The best possible scenario would have been a takeover by a foundation. That was not going to happen. The St. Petersburg Times was taken over a foundation, but that was a relatively small acquisition of a local, albeit high quality publication. The next best possible scenario was an acquisition by a civic minded individual with a longer term investment horizon with significant tech chops. That’s Jeff Bezos.