When newspapers began failing as businesses, a number of them were bought by billionaires. That provided a lifeline, but, it was pretty widely said, also a risk: What if the billionaires tired of the money they were losing, and abandoned the field? As things are turning out, the risk seems a somewhat different one, and I want to look at it this week.The problems at the Washington Post under Jeff Bezos and the Los Angeles Times under Patrick Soon-Shiong seem to me to have an important common element: owners who have made significant investments, but have now apparently drawn a line short of what’s necessary for their publications to thrive with readers.
Origen: Great Newspapers and the Problem of Underspending Billionaires
