In this Book
A billionaire who made his money in the world of high finance, Henry inspired optimism in Boston because of his track record as a public-spirited business executive—and because his deep pockets seemed to ensure that the shrunken newspaper would not be subjected to further downsizing. In just a few days, the sale of the Globe was overtaken by much bigger news: Jeff Bezos, the founder of Amazon and one of the world’s richest people, had reached a deal to buy the Washington Post for $250 million.
Henry’s ascension at the Globe sparked hope. Bezos’s purchase seemed to inspire nothing short of ecstasy, as numerous observers expressed the belief that his lofty status as one of our leading digital visionaries could help him solve the daunting financial problems facing the newspaper business.
Though Bezos and Henry are the two most prominent individuals to enter the newspaper business, a third preceded them. Aaron Kushner, a greeting-card executive, acquired California’s Orange County Register in July 2012 then pursued an audacious agenda, expanding coverage and hiring journalists in an era when nearly all other newspaper owners were trying to avoid cutting both.
The Return of the Moguls chronicles a story in the making. Is a return to old-style individual ownership sparking a renaissance for the newspaper business, and if so, how?