Incha Paper Group





Old newspapers in the United States have changed ownership one after another, and the print media is declining

Three days after the 140-year-old "Boston Globe" was transferred at a low price by the New York Times Company, the old American newspaper "Washington Post" also announced a change of ownership, becoming another example of the declining print media under the impact of the Internet and other electronic media. A landmark event."Washington Post" was once famous for being the first to exclusively report on the "Watergate Incident" and eventually led to the resignation of President Richard Nixon. It is one of the most influential newspapers in the United States along with "New York Times". Controlled by the Graham family, a newspaper family.On the 5th, the Graham family announced that Bezos, the president of the global online e-commerce giant Amazon, will spend US$250 million to acquire The Washington Post. "The New York Times" reported on the 6th that the "Washington Post" changed ownership for the first time in 80 years under the title "The End of an Era".Bezos, who was described by American newspapers as "almost never interested in newspapers other than reading them", ranks 19th on the Forbes magazine billionaire list, with an estimated wealth of about US$26 billion.With the popularization of the Internet, electronic reading has gradually become the mainstream, and the survival of paper media has become increasingly difficult. Last weekend, The New York Times announced that it would sell its Boston Globe and other New England media properties to Boston Red Sox principal owner John Henry for $70 million, a price that was lower than the New York Times Company 20 years ago. One-tenth of the price at which it was purchased.In 1993, The New York Times Company bought The Boston Globe for $1.1 billion. And the Boston Globe isn't the only newspaper to be bought at a slashed price. In October 2012, the Tampa Tribune was sold for $9.5 million. In April 2012, the "Philadelphia Inquirer" and "New York Daily News" were acquired by a local investment group for $55 million. The two newspapers were sold for $515 million six years ago.In addition to newspapers, paper magazines that have been impacted by electronic media are also struggling. On December 31, 2012, "Newsweek", one of the most authoritative news magazines in the United States, published its last issue, ending nearly 80 years of paper edition operation and transitioning to full digitalization, making it the current circulation that has given up on paper media biggest magazine.Donald Graham, president of the Washington Post Group, said at a press conference on the 5th, "Facing the same challenges in the news publishing industry for many years, we feel that maybe a different owner may be more beneficial to the Post."A series of financial data of the group can illustrate the dilemma of newspapers in the Internet age. Over the past decade, the paper's circulation has fallen from 769,000 in 2002 to 472,000 in 2012. During the same period, the operating performance went from a profit of US$109 million in 2002 to a loss of US$53.7 million in 2012.In the first fiscal quarter of this year, the profits of The Washington Post Corporation fell sharply by 84%.

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