Jeff Bezos has denied rumours he wants to sell the Washington Post but hopes that Silicon Valley savvy could transform heritage media have waned
speculation to the contrary,
On the surface, nothing had changed but the story did serve to illustrate how well the recent marriage of rich tech moguls and US media has worked out after a wave of wealthy men purchased troubled news outlets, in some cases, after decades of dynastic family ownership. That calculus is now challenged as the US news industry struggles with the problems that have beset it for years: declining print products, struggles to make money online and a wealth of upstart digital rivals. “Part of the newspaper business has been kept afloat, beyond underpaying its staff, by some form of private generosity and philanthropy. That will continue, but for non-business motives and for amplifying your voice,” said Noam.
‘Washington is full of issues that affect Amazon and owning the Washington Post gives you soft power. 'Everybody knows it and understands it.’According to a report by PriceWaterhouseCoopers, the tech deals market more broadly essentially froze in the last three months of 2022 with both deal value and volume decreasing 83% and 57%, respectively. “It’s a broad deal market story, not that they’re weaning off media,” said Lori Bistis, a tech and media deals expert at the consultant.
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