This article originally appears on the WWPR blog, posted on August 16, 2013
I just received my latest Fast Company (September 2013) and the cover story is all about Jeff Bezos, or as the text reads “King Bezos”. The issue went to press before the announcement that Bezos had agreed to buy the Washington Post for $250 million, cash. This announcement was on the heels of the sale of the Boston Globe for $70 million to John W. Henry, principal owner of the Boston Red Socks.
When the Boston Globe sale was announced, the scuttlebutt had more to do with the difference between the purchase price of $1.1 billion in 1993 to the sale price 20 years later of $70 million. Makes one wonder, not for the first time, about the future and value in the market place of traditional print media. Mind you, I’m not suggesting that this trend is a new one. Print journalism and traditional media outlets have been struggling to find a balance between business as usual and new ways in which consumers receive and interact with news stories.