Perhaps the most defining trend of today's world is the digitization of almost every product or service in the world. Often, digital newcomers end up slaying the analog incumbents. Learn about this through the transformation of The Washington Post after its 2013 acquisition by Jeff Bezos.
- By 2013, the Washington Post…had become a shadow of its glorious past,…which included uncovering the Watergate scandal.…Like most print media, it was dying.…First, digital media such as Craigslist…killed off classified advertising.…Then, the onslaught of e-commerce…led to reduced advertising from brands and retail stores.…
To add insult to injury, online portals…like Yahoo! News, BuzzFeed, and (mumbles)…reduced readers' willingness to pay for news content.…The Post's response created a classic case…of downward spiral.…As the economics of the newspaper collapsed,…managers and editors looked for ways to cut costs.…They started by closing foreign bureaus…and laying off reporters.…
As the digital onslaught continued,…they began reducing coverage of national news.…By the early part of this decade,…the one time global giant had basically become…a city-based paper covering the Washington DC Metro region.…In 2013, Jeff Bezos, founder and CEO of Amazon,…purchased the Washington Post from the Graham family…using his own personal funds, benefiting…
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