The Reuters news wire has an interesting little piece today that reveals that Amazon.com founder Jeff Bezos not only seems to have agreed to buy the Washington Post for much, much more than its market value, but that agreed to the initial asking price rather than try to haggle it down.
Jennifer Saba has the story:
What better example of media bias, than when a company you own has been alleged to have conducted fraudulent business practices, questionable lobbying tactics, and possible insider trading – and you report nothing about it.
The Washington Post recently published an article regarding a potential ‘debt bomb’ on the American economy – student loans. But in this article, the Post continues to do little in the way of reporting on for-profit colleges, a prime sector for student loan defaults. And it most certainly ignores a for-profit college which is the main source of its very own revenue – Kaplan University.
Kaplan over the last several years has accounted for the vast majority of revenue at the Washington Post company. In 2009 for example, Kaplan accounted for 58% of the Post’s revenue, while newspaper and magazine publishing accounted for a mere 19%. So it stands to reason that the Post’s lack of reporting may be due to their reliance on cash from the university.
By ignoring the story however, the Post is avoiding the dark side of the Kaplan enterprise.
There’s something oddly funny about the cluelessness of liberal media companies when their ratings fall or their subscriptions collapse. They just refuse to admit, even consider that the business problem could be (at least in part) their own incessant liberal agitating. Instead, they seem to double down and make things even worse.
ABC’s Sunday show “This Week with George Stephanopoulos” could never beat NBC, so what did the ABC braintrust do? They promoted the Bill Clinton spin artist to an everyday anchor job on “Good Morning America.” Then they doubled down and replaced him with CNN’s Christiane Amanpour, who is married to another Bill Clinton spin artist, Jamie Rubin. Can it get more insular?
Here’s another case in point: Newsweek’s subscriptions collapsed a couple of years back. How could it not be (at least in part) the umpteen Obama-worshipping cover stories that caused some subscribers to cancel. Then they really abandoned the “News” half of their title and wrote cover stories like “We’re All Socialists Now” and “Is Your Baby Racist?”
Newsweek was put on the market, and the market has spoken: a $1 sale.