SHOCKED! That’s how many in the media industry felt upon the announcement that the Grahams, whose family had owned the Washington Post - one of the world’s most prestigious newspapers - since 1933, was selling their title for $250 million. Even more shocking was the buyer, a complete outsider to the newspaper industry: Amazon.com founder and digital icon, Jeff Bezos.
For many years, quality newspapers were supported by a healthy business model. The mission of newspapers may have been to inform and delight readers, but commercially, they were ad platforms, brilliant means by which marketers could reach valuable audiences.