Why Jeff Bezos Bought The Washington Post [Forbes]
New York Times Company (The) (NYT)
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Source: Forbes
Marc Benioff, founder and CEO of Salesforce, and his wife recently announced they agreed to buy Time magazine. The obvious next question: why? Many have put forward a narrative of a philanthropic white knight swooping in to save the company with a generous impulse purchase. And a brief text message exchange between Benioff and The New York Times did nothing to dissuade us of that idea. Benioff admitted a mere two weeks ago, he didn’t even know he would buy the media property. While he was quick to assert his long-standing passion for the magazine, his answers didn’t expose a particularly salient argument for its purchase and instead seemed somewhat perfunctory. But it’s unlikely someone with Benioff’s track record of success would take on Time magazine without putting in some strategic thought. With this in mind, I was interested to watch a recent interview of Jeff Bezos, who similarly bought The Washington Post in 2013. In the course of the discussion, Bezos
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