Washington Post sale a sign respected brands will matter, even online (+video)
The purchase of the Washington Post by Amazon founder Jeff Bezos is seen as a 'logical step' in the rise of digital media. 'Even digital pioneers know that a good name is priceless,' says one analyst.
As big names in the old media game are being bought by even bigger names in the new media world, media watchers are hoping for signs of what’s next for journalism in the Internet age, both in terms of how the news "product" is packaged and delivered, and especially how the future business could prosper.
Just in the past four days, The Washington Post was snapped up by Amazon founder Jeff Bezos, Newsweek changed hands (again), moving into the International Business Times (IBT) portfolio of digital products, and The New York Times sold The Boston Globe to the owner of the local baseball franchise, the Red Sox.
This follows last year's moves when Newsweek itself dropped its print edition and partnered with online publication The Daily Beast, and Facebook co-founder Chris Hughes bought Washington magazine, The New Republic.
These moves are inevitable, says Paul Levinson, author of "New New media." "Jeff Bezos' purchase of The Washington Post is a logical step in the growing predominance of digital media in all sectors of communication previously in the province of traditional mass media," he says via e-mail.