News / USA

Analysts See Washington Post Purchase As Timely

Analysts See Washington Post Purchase As Timelyi
X
August 07, 2013 12:03 AM
Amazon founder Jeff Bezos is buying one of the top U.S. newspapers. The Washington Post announced Monday that Bezos is buying the paper and its affiliated publications for $250 million. The news surprised many in the news industry. But as Mil Arcega reports, some analysts say the deal may be good for the struggling newspaper business.
Amazon founder Jeff Bezos is buying one of the top U.S. newspapers.  The Washington Post announced Monday that Bezos is buying the paper and its affiliated publications for $250 million.  The news surprised many in the news industry.  But as Some analysts say the deal may be good for the struggling newspaper business.

Known for breaking major stories - it’s been an icon of print journalism for decades.  But faced with declining circulation and a sharp drop in operating revenue, Washington Post Chairman Donald Graham told employees - the paper stood a better chance with a new owner.

“We knew we could keep the Post alive, we knew it could survive.  But our aspirations for the Post have always been higher than that," said Graham.

Newspapers have been losing readership and advertising revenue to on-line rivals.

“I’ve been a subscriber before but I don’t really subscribe to anything anymore.  I read everything online," said woman.

Enter Internet pioneer and Amazon founder Jeffery Bezos  - the world’s 11th richest man - with an offer to buy the Post for a quarter of a billion dollars.  
Some call it a smart move by Bezos - and a timely one for the Washington Post.

Author and media studies professor Paul Levinson says it was time for the newspaper to dive into the digital age.  He spoke to VOA via Skype.
 
“Because the future of newspapers is online.  This doesn’t mean that print newspapers will go out of existence, as a matter of fact, the best chance that printed newspapers have to continue is if they have a vibrant, active, growing, online presence and that’s what Amazon can do for Washington Post," said Levinson.

After decades of Graham family ownership, Bezos assured the family and Post employees that the paper's mission and character would not change - promising to leave operations to the paper’s managers.

Chris Tolles, the CEO of Topix - an online news community that reaches millions - says the Post is an important voice in the news business and U.S. politics.  He spoke to VOA on Skype.

“I think it’s one of the top three or four big newspapers in the United States and its editorial pages carry weight; they’re read by presidents and Congress and their families," said Tolles.

The Post earned its strong reputation by breaking stories such as the Watergate scandal, the Pentagon papers and more recently, disclosures about the National Security Agency’s surveillance programs.

You May Like

Nearly 900 Dead, Missing in 2014 Air Disasters

Southeast Asia took a particularly heavy hit; 3 major events involved weather, two planes were shot down in eastern Ukraine, and one crash was attributed to mechanical problems More

Video Islamic State Emergence Transformed Syria, Iraq in 2014

'It was very clear that there were problems building up in Iraq at the end of 2013 but everybody was distracted by Syria,' says one expert, explaining group's rapid rise More

Rights Group: IS Executed Nearly 2,000 in Syria in 6 Months

Islamist group also killed 120 of its own members, most foreign fighters trying to return home, in past two months, according to Syrian Observatory for Human Rights More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Russians Head Into Holiday Facing Economic Malaisei
X
Daniel Schearf
December 25, 2014 4:34 PM
Russian preparations for the New Year holiday are clouded by economic recession and a tumbling currency, the ruble. Nonetheless, people in the Russian capital appear to be in a festive mood. VOA's Daniel Schearf reports from Moscow.
Video

Video Russians Head Into Holiday Facing Economic Malaise

Russian preparations for the New Year holiday are clouded by economic recession and a tumbling currency, the ruble. Nonetheless, people in the Russian capital appear to be in a festive mood. VOA's Daniel Schearf reports from Moscow.
Video

Video Mombasa in Holiday Tourism Slump Due to Security Fears

Kenya's usually popular beachside tourist destination of Mombasa is seeing a much slower holiday season this year due to fears of insecurity as the country has suffered from a string of terror attacks linked to Somali militants. Mohammed Yusuf reports for VOA on how businessmen and tourists feel about the situation.
Video

Video For Somalis, 2014 Marked by Political Instability Within Government

While Somalia has long been torn apart by warfare and violence, this year one of the country's biggest challenges has come from within the government, as political infighting curtails the country's progress, threatens security gains and disappoints the international community. VOA's Gabe Joselow report.
Video

Video 2014 Saw Intensification of Boko Haram Insurgency

The year 2014 saw Nigerian militant sect Boko Haram intensify its five-year insurgency and target civilians in large numbers as it seized territory in the northeast. The kidnapping of nearly 300 schoolgirls in Chibok in April sparked global outrage, but failed to become the turning point against the sect that Nigeria’s president said it would be. The picture at year's end is one of devastation and uncertainty. VOA’s Anne Look reports.
Video

Video Estimates Rising of Foreign Fighters in Iraq, Syria

Foreign fighters are making more of a mark on the battles raging across Syria and Iraq than initially thought. VOA's Jeff Seldin has more.
Video

Video US Political Shift Could Affect Iran Nuclear Talks

Secretary of State John Kerry’s efforts to resolve Iran’s nuclear crisis are continuing into 2015 after Iran and six world powers failed to agree by a November deadline. U.S. domestic politics, however, could complicate efforts to reach a deal in the new year. VOA State Department correspondent Pam Dockins has the story.
Video

Video NYSE: The Icon of Capitalism

From its humble beginnings in 1792 to its status as an economic bellweather for the world, the New York Stock Exchange is an integral part of the story of America. VOA’s Bernard Shusman reports from Wall Street.
Video

Video Syrian Refugees in Lebanon Fight to Survive Water Crisis

In a region choking from dwindling water supplies, Lebanon has long been regarded as one of the few places where there is enough. But in recent years, half the people in the country have faced severe shortages. And the more than 1 million Syrian refugees in Lebanon are hit the worst by the water crisis, making the country's most vulnerable people increasingly impoverished and sick. Heather Murdock reports for VOA in the Bekaa Valley in Lebanon.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid