Journalism’s Broken Business Model Won’t Be Solved by Billionaires

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Yet another bankrupt newspaper
A Mark Thiessen/AP photo

– News about the news covered by Quincy Quarry News with commentary added.

 

Journalism’s Broken Business Model Won’t Be Solved by Billionaires.

 

Journalists waiting for deep-pocketed owners to buy their news organizations are ignoring the reality that historically print-based news media have failed to develop a viable new business model.

 

He wants to control consumers
Image c/o dazeinfo.com

Ever since Donald Graham, the heir to the Washington Post, decided in 2013 to sell the family’s newspaper for two hundred and fifty million dollars to Jeff Bezos, the founder of Amazon and one of the world’s richest men, the preferred solution for a financially struggling publication has been to find a deep-pocketed billionaire, with other sources of income, to buy it and run it more or less as a philanthropic endeavor.

 

The former Globe headquarters
A Boston Globe image

The problem is, however, is that all too often wealthy buyers end up losing money. 

 

For example, just ask Boston Globe owner John W. Henry.

 

For a detailed story on one such media financial fiasco, read all about the sad saga of the Alaska Dispatch News.

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