There are four Democratic women running for president and the media is working overtime to take them all down. Meanwhile, elderly white males Joe Biden and Bernie Sanders get kid glove treatment.
Let me see if I can get this straight: Elizabeth Warren believed her family when they told her she had a Native American ancestor. Kamala Harris was a prosecutor (horrors!), she dated an older black man but married a white man. Amy Klobuchar is mean to her staff. Kirsten Gillibrand is “too transparently opportunistic.”
Each one of these women has now been assigned a “her emails” story that will dominate her campaign if reporters are successful. But two elderly white men with problematic political records and a younger man with few qualifications (Beto O’Rourke) are treated as viable candidates.
Sigh . . . Will I live to see a woman president? I’m still hoping.
In other news, Trump had his physical and surprise! He’s in perfect health!
The Washington Post: Trump’s doctor says he is in ‘very good health’ after exam by 11 specialists.
President Trump is “in very good health” and is expected to remain healthy for “the duration of his Presidency, and beyond,” the president’s doctor reported Friday after a physical exam that lasted nearly four hours and included 11 specialists.
The White House did not release details of the exam at Walter Reed National Military Medical Center and did not say whether more details would be released.
Trump was seen by a “panel of 11 different board certified specialists,” Sean P. Conley wrote in a brief memorandum released by the White House.
The memo did not include the disciplines of any of the specialists. Typically, a physical exam includes checks of height, weight, blood pressure and other standard measures. Trump said last year that he takes a statin drug to manage his cholesterol.
Trump did not undergo any procedures requiring sedation or anesthesia, Conley reported.
I wonder if he is still 6’3 and 239 pounds? The doctor doesn’t say. Maybe his height increased again–so rare for a 72 year old man, but possible for a wannabe dictator.
Let’s see, what else is happening?
The New York Times: Trump Defies Congressional Deadline on Khashoggi Report.
President Trump refused to provide Congress a report on Friday determining who killed the journalist Jamal Khashoggi, defying a demand by lawmakers intent on establishing whether the crown prince of Saudi Arabia was behind the grisly assassination.
Mr. Trump effectively bypassed a deadline set by law as his administration argued that Congress could not impose its will on the president. Critics charged that he was seeking to cover up Saudi complicity in the death of Mr. Khashoggi, an American resident and a columnist for The Washington Post.
“Consistent with the previous administration’s position and the constitutional separation of powers, the president maintains his discretion to decline to act on congressional committee requests when appropriate,” the Trump administration said in a statement. The statement said the administration had taken action against the killers and would consult with Congress.
But Democrats said Mr. Trump was violating a law known as the Magnitsky Act. It required him to respond 120 days after a request submitted in the fall by committee leaders — including Senator Bob Corker, Republican of Tennessee and then the chairman of the Senate Foreign Relations Committee — a period that expired Friday.
The illegitimate “president” of the U.S. is protecting a foreign despot who ordered the brutal murder of a Washington Post journalist. And there are suggestions that the “president” used Saudi Arabia and his pals at The National Enquirer to get revenge on Jeff Bezos, who owns the Post.
Jeff Bezos’ stunning accusation that the National Enquirer tried to blackmail him mentioned the close ties between the paper’s publisher, David Pecker, and President Donald Trump — and a second, less well-known connection.
Bezos flagged the link between the New York tabloid’s parent company, American Media, and the Kingdom of Saudi Arabia, returning to it several times.
While Saudi Minister of State for Foreign Affairs Adel al-Jubeir denied any connection between his country and AMI to CNN, Bezos said in his Thursday statement that the link between the Kingdom and the media company is not yet fully understood. He carefully laid out a web of connections.
The trigger for Bezos’ post was his decision to hire a respected investigator to find out how texts to his girlfriend were obtained and published by the National Enquirer — and to determine why the paper and Pecker, the AMI chairman, had made him a target.
“Several days ago, an AMI leader advised us that Mr. Pecker is ‘apoplectic’ about our investigation,” Bezos wrote. “For reasons still to be better understood, the Saudi angle seems to hit a particularly sensitive nerve,” he continued.
A couple of articles on the National Enquier story to check out:
The illegitimate “president’s” fake attorney general made an ass of himself in front of the Congressional committee and the world yesterday and the “president” is very pleased. Natasha Bertrand at The Atlantic: Matthew Whitaker Plays to an Audience of One.
It took about five minutes of questioning for the acting attorney general to provoke gasps and jeers in the congressional hearing room. “Your five minutes are up,” Matthew Whitaker, an ex-U.S. Attorney-turned toilet salesman, told the House Judiciary Committee’s Democratic chairman Jerry Nadler. Nadler cracked a smile, but from that point on the rules of engagement seemed clear: Whitaker, just days remaining in his legally dubious role as the interim head of the Justice Department, appeared to be playing to an audience of one…..
Despite the lingering questions about his resume and suspicions about why he was appointed over Deputy Attorney General Rod Rosenstein, who would have been Sessions’s natural replacement, Whitaker presented himself to Nadler, a 13-term congressman, with the same aloofness and disdain for tradition that often seems typical of the Trump White House. And that may have been on purpose. Whitaker, whose tenure ends when Bill Barr is confirmed as attorney general next week, will need a new job. He has reportedly been considered for the role of Trump’s chief of staff. And though he testified under oath that he had “not interfered in any way with the special counsel’s investigation,” he repeatedly declined to contradict Trump’s claims that Mueller is on a “witch hunt.”
Chuck Rosenberg, a former senior Justice Department official who resigned in 2017, said it would have been “easy” for Whitaker to say that Mueller’s investigation is legitimate, as Barr did during his recent confirmation hearings. “I don’t know how somebody could be that cowardly,” he added. But doing so would have undermined what is arguably his boss’s most important talking point—and that would not have been a good move for Whitaker if he was, in fact, auditioning for his next position.
Instead, Whitaker had a boilerplate response prepared for the myriad of questions posed by Democrats about the Mueller probe: “It would be inappropriate for me to talk about an ongoing investigation,” he said. Democrats, though, found that disingenuous—Whitaker had discussed the probe publicly earlier this month, going as far as to speculate that it would be wrapping up soon.
Read the rest at The Atlantic.
Here’s a Trump/Whitaker/Russia scandal that is new to me. Raw Story:
Taking to Twitter on Friday night, Rhode Island Sen. Sheldon Whitehouse (D) hinted that there will be an investigation into a donor who gifted the Judicial Network with $18 million to steal the Supreme Court seat belonging to Merrick Garland.
As part of his observations on the Matt Whitaker hearing where he was confronted about a mysterious $1.2 million donation that funded his salary, Whitehouse said Democrats shouldn’t stop there.
‘Whitaker did political hit work for a front group called FACT that does not reveal its donors. Today he admitted that its donor was Donors Trust, an entity that hides the identity of right-wing donors. That means the unknown real donor hid behind two entities,” Whitehouse tweeted….
Whitehouse then put conservatives on notice that he expects an investigation into the dark money that was used to fund a campaign to keep Judge Merrick Garland from even getting a hearing — only to see his seat go to conservative Neil Gorsuch after Donald Trump was elected.
I found this on Twitter.
Could this be true? I don’t know, but I hope Whitehouse finds out. At this point, nothing about Trump, Republicans, and Russia would surprise me.
I’ll end with something more hopeful from The New York Times: John Dingell: My last words for America.
John D. Dingell, a Michigan Democrat who served in the U.S. House from 1955 to 2015, was the longest-serving member of Congress in American history. He dictated these reflections to his wife, Rep. Debbie Dingell (D-Mich.), at their home in Dearborn, on Feb. 7, the day he died.
One of the advantages to knowing that your demise is imminent, and that reports of it will not be greatly exaggerated, is that you have a few moments to compose some parting thoughts.
In our modern political age, the presidential bully pulpit seems dedicated to sowing division and denigrating, often in the most irrelevant and infantile personal terms, the political opposition.
And much as I have found Twitter to be a useful means of expression, some occasions merit more than 280 characters.
My personal and political character was formed in a different era that was kinder, if not necessarily gentler. We observed modicums of respect even as we fought, often bitterly and savagely, over issues that were literally life and death to a degree that — fortunately – we see much less of today.
Click on the link to read Dingell’s final thoughts. How amazing that he chose to speak out publicly from his deathbed. He was a true public servant.
That’s all I have for today. I hope you all enjoy the weekend in spite of the insanity that surrounds us.
I have quite a few articles to share this morning, a real Saturday potpourri! So let’s get started. First up, on Thursday Attorney General Eric Holder gave a wide-ranging interview to Ari Melber of MSNBC, and quite a bit of breaking news came out of it. Here are some of the resulting headlines: NY Daily News: Eric Holder: Could talk deal with NSA-leaker Edward Snowden, but no clemency
Holder told MSNBC that the Obama Administration “would engage in a conversation” about a resolution in the case, but said it would require Snowden acknowledge wrongdoing…. At a University of Virginia forum, where Holder was asked about Snowden, he elaborated on his position, saying, “If Mr. Snowden wanted to come back to the United States and enter a plea, we would engage with his lawyers. We would do the same with any defendant who wanted to enter a plea of guilty, so that is the context to what I said.” But he stressed that the NSA leaker would not walk. “We’ve always indicated that the notion of clemency isn’t something that we were willing to consider.”
Seattle PI: Holder: Marijuana banking regulations on the way
Attorney General Eric Holder says the Obama administration is planning to roll out regulations soon that would allow banks to do business with legal marijuana sellers. During an appearance Thursday at the University of Virginia, Holder said it is important from a law enforcement perspective to enable places that sell marijuana to have access to the banking system so they don’t have large amounts of cash lying around. Currently, processing money from marijuana sales puts federally insured banks at risk of drug racketeering charges. Because of the threat of criminal prosecution, financial institutions often refuse to let marijuana-related businesses open accounts.
There’s a good piece about this at Forbes, but they won’t even let you copy their headlines anymore. Mediaite: Eric Holder: Voter ID Used to ‘Depress the Vote’ of People Who Don’t Support GOP
Attorney General Eric Holder sharply criticized state-level voter identification policies and said that he believes those policies are a “remedy in search of a problem.” He added that, while some may be arguing for voter ID in good faith, he believes that most are advocating for this policy in order to “depress the vote” of those who do not support the “party that is advancing” voter ID measures. “I think many are using it for partisan advantage,” Holder said of voter ID. “People have to understand that we are not opposed to photo identification in a vacuum,” he continued. “But when it is used in — certain ways to disenfranchise particular groups of people, whether by racial designation, ethnic origin, or for partisan reasons, that from my perspective is problematic.” He added that “all the studies” show that in-person voter fraud “simply does not exist” at a level that requires a legislative solution.
Attorney General Eric Holder waded into the controversy over former Defense Secretary Robert Gates’s new book Thursday, calling it “a mistake” for Gates to have published his recollections before President Barack Obama left the White House. “It’s my view that it’s just not a good thing thing to write a book about a president that you served while that president is still in office,” Holder said during an appearance at the University of Virginia’s Miller Center. “From my perspective I think the world of Bob Gates, but I think that the publication of that book — at least at this time — was a mistake.” [….] In the course of offering his critique of the timing of Gates’s book, “Duty: Memoirs of a Secretary at War,” Holder twice praised the former defense secretary for his leadership. “I like Bob Gates a great deal. He was a good secretary of defense,” the attorney general said.
“I think people just need to be a little patient,” Holder said, according to a transcript of an interview with MSNBC to air at noon Pacific time Friday. “I know it’s been a while. But we have other things that are in the pipeline.” [….] Holder has taken heat for telling a Senate hearing last year that some financial institutions were “so large that it becomes difficult to prosecute them” because criminal charges could hurt the U.S. and even world economies. Since then Holder has tried to emphasize that the Justice Department is not intimidated by the size of a financial institution and would bring any charges it believed it could prove.
As I said, quite a bit of news out of one interview. Good job by Ari Melber.
In other news . . .
The Economist has a brief article that provides some background on the situation in Ukraine: On the march in Kiev –The protests turn nasty and violent, but the president is not giving ground.
JANUARY 22nd was meant to mark Ukraine’s unity day, a celebration of its short-lived pre-Soviet independence. Instead, it was a day of civil unrest and perhaps the biggest test of Ukraine’s post-Soviet integrity. After two months of largely peaceful encampment on the Maidan in Kiev, the protests turned violent. Five people were reported killed and hundreds were injured. An armoured personnel carrier pushed through the streets. Clouds of black smoke and flames mottled the snow-covered ground. Never in its history as an independent state has Ukraine witnessed such violence. It was triggered by the passage of a series of repressive laws imposing tight controls on the media and criminalising the protests of the past two months. One law copied almost verbatim a Russian example, including stigmatising charities and human-rights groups financed from abroad as “foreign agents”. If Russian human-rights activists denounce their parliament as a “crazy printer” churning out repressive legislation, says Oleksandra Matviichuk of the Centre for Civil Liberties in Kiev, Ukraine has a “crazy photocopier”. The clashes show vividly the refusal of the protesters to heed such laws.
Brian Glyn Williams, the U. Mass Dartmouth professor who interacted with Boston Marathon bomber Dzhokhar Tsarnaev and recommended some sources of information on Chechnya for a report Tsarnaev was writing, has a post up at HuffPo on how the history of Chechya and Dagestan is coming back to haunt the Winter Olympics in Russia: The Dark Secret Behind the Sochi Olympics: Russia’s Efforts to Hide a Tsarist-Era Genocide. Here’s the conclusion:
The twin bombings in Volgograd in late December 2013 and an earlier one in October are clearly meant to show the Russians that the Chechen-Dagestani terrorists have reignited their terror jihad. They are also meant to remind the world of the tragedy that befell the Circassians of the Caucasus’s Black Sea shore exactly 150 years ago this winter. This is the dark secret that Russia’s authoritarian leader, Putin, does not want the world to know. Putin has thus far been very successful in conflating Russia’s neo-colonial war against Chechen separatists with America’s war on nihilist Al Qaeda Arab terrorists. Any attempt to remind the world of Imperial Russia/Post-Soviet Russia’s war crimes in the Caucasus is a threat to Putin’s pet project, the whitewashed Sochi Olympics. This of course not to excuse the brutal terroristic acts of the Caucasian Emirate or the Chechen rebels, but it certainly provides the one thing that Putin does not want the world to see as he constructs his “Potemkin village” in Sochi, and that is an honest account of the events that have made this the most terrorist fraught Olympic games since the 1972 Summer Olympics in Munich.
Remember Erik Prince, the Michigan millionaire who founded Blackwater? Guess what he’s doing these days? The WSJ has the scoop: Erik Prince: Out of Blackwater and Into China. Erik Prince —ex-Navy SEAL, ex-CIA spy, ex-CEO of private-security firm Blackwater —calls himself an “accidental tourist” whose modest business boomed after 9/11, expanded into Iraq and Afghanistan, and then was “blowtorched by politics.” To critics and conspiracy theorists, he is a mercenary war-profiteer. To admirers, he’s a patriot who has repeatedly answered America’s call with bravery and creativity.
Now, sitting in a boardroom above Hong Kong’s Victoria Harbour, he explains his newest title, acquired this month: chairman of Frontier Services Group, an Africa-focused security and logistics company with intimate ties to China’s largest state-owned conglomerate, Citic Group. Beijing has titanic ambitions to tap Africa’s resources—including $1 trillion in planned spending on roads, railways and airports by 2025—and Mr. Prince wants in…. “I would rather deal with the vagaries of investing in Africa than in figuring out what the hell else Washington is going to do to the entrepreneur next,” says the crew-cut 44-year-old. Having launched Blackwater in 1997 as a rural North Carolina training facility for U.S. soldiers and police, Mr. Prince says he “kept saying ‘yes’ as the demand curve called—Columbine, the USS Cole and then 9/11.” In 100,000 missions in Iraq and Afghanistan, he says, Blackwater contractors never lost a U.S. official under their protection. But the company gained a trigger-happy reputation, especially after a September 2007 shootout that left 17 civilians dead in Baghdad’s Nisour Square. At that point, charges Mr. Prince, Blackwater was “completely thrown under the bus by a fickle customer”—the U.S. government, and especially the State Department. He says Washington opted to “churn up the entire federal bureaucracy” and sic it on Blackwater “like a bunch of rabid dogs.” According to Mr. Prince, IRS auditors told his colleagues that they had “never been under so much pressure to get someone as to get Erik Prince,” and congressional staffers promised, “We’re going to ride you till you’re out of business.”
Awwwwww…..Poor little rich boy. Where’s my tiny violin?
Speaking of entrepreneurs, Amazon billionaire Jeff Bezos’ plans for his latest acquisition–The Washington Post–are becoming clearer, as he hires more right wing libertarians for the op-ed page. Now Pando Daily reveals what Don Graham is up to now that he’s dumped the family business: The company formerly known as WaPo moves into tech apps.
Today, the company formerly known as WaPo — now called Graham Holdings – has announced a new business endeavor in journalism. Surprisingly, said endeavor doesn’t have much to do with actual journalism at all — it falls squarely in the tech camp. It’s a content discovery app called Trove. Trove fits in the now-torrential trend of such applications. Companies like Flipboard,Prismatic, Rockmelt, and N3twork have all tread this ground long before Trove. They’re all convinced that places like Twitter, Facebook, Tumblr, and RSS readers are not good enough for finding the best stories…. The two men behind Trove have rich and storied histories. Vijay Ravindran, the CEO of Trove, served as The Washington Post’s Chief Digital Officer before the sale, and ran ordering at Amazon for seven years before that. Reuters oped columnist Jack Shafer even divpredicted (incorrectly) that Ravindran would be named the new WaPo publisher after the sale. The other Trove heavyweight is product lead Rob Malda, who is also the co-founder and former editor-in-chief of Slashdot — the predecessor of every user-focused news aggregator since, from Digg to Reddit to Hacker News.
Read all about it at the above link.
A few short takes:
In other tech news, CSM’s Security Watch reports that Booz Allen, Snowden’s old firm, looking to help US government with ‘insider threats’. Author Dan Murphy asks, “Are defense and intelligence contractors the best choice to manage a threat they’ve contributed to?” Read it and weep.
According to Fox News, gun manufacturers Smith & Wesson and Ruger will no longer do business in California because they don’t want to comply with a new CA law that allows law enforcement to trace bullets to the individual gun they came from. After all, why would gun companies want to help police catch murderers? Unbelievable!
Did you know that this month is the 50th anniversary of Stanley Kubrick’s brilliant satire, Dr. Strangelove? IMHO, it is one of the funniest movies of all time. Well, Eric Schlosser has a not-so-funny article about it at The New Yorker: ALMOST EVERYTHING IN “DR. STRANGELOVE” WAS TRUE. Don’t miss this one; it’s a must read!
Apparently the latest food craze to emerge from San Francisco is “artisanal toast.” How did toast become the latest artisanal food craze? Ask a trivial question, get a profound, heartbreaking answer. John Gravois writes about it at Pacific Standard: The Science of Society. Weird.
A silly test to take at Buzzfeed: Which Pop Diva Are You? I got Pink. I know nothing about her…but she looks kinda cool.
Finally, I posted this link in the comments recently, but I don’t know if anyone looked at it. I’m posting it again, because I think it’s absolutely adorable. It’s some glamour shots of elderly people having fun dressing up and posing as various movie heroes and heroines. Here’s just one example:
I hope you found something to tickle your fancy in this potpourri of articles. Now it’s your turn. Please post your recommended links in the comment thread, and have a wonderful weekend!
The big news today is of course the Graham family’s shocking sale of The Washington Post to billionaire Jeff Bezos of Amazon. This, along with the sale of The Boston Globe to Red Sox owner John Henry and the sale of Newsweek to IBT Media, signal the true end of an era.
The days when Americans woke up to the daily newspaper on their doorsteps is long gone. The place to go for the latest news these days is the internet and print newspapers and news magazines are struggling to survive. But the Globe and Newsweek have been on the auction block for a long time; the Post sale was a complete surprise, even to its employees.
From David von Drehle at Time Magazine: A New Age for the Washington Post
It’s hard to startle the journalism business these days, given the scale and speed of disruption of the media industry. But the Graham family selling the Washington Post to Amazon CEO Jeff Bezos for $250 million is an exception. Few newspapers in the world are as closely identified with a single family.
The story of the Grahams and the Post used to be told in giant pictures on the wall of the newspaper lobby on L Street not far from the White House. One grainy photograph documented the day in 1933 when the brilliant financier Eugene Meyer bought the paper for a song at a bankruptcy sale on the courthouse steps. Another (a favorite of all of us who worked there) showed Meyer’s remarkable daughter, Katharine Graham, beaming as she left another D.C. courthouse in the company of her favorite editor, Benjamin C. Bradlee, after they prevailed over the government in the Pentagon Papers lawsuit.
But the most important photograph, according to Mrs. Graham’s son and successor Donald E. Graham, was the one that showed Meyer in the company of Philip L. Graham, the brilliant and tragic husband of Katharine and father of Don. They were smiling like a pair of lotto winners, which they were. The year was 1954, and after years of effort and red ink, they had finally bought out their last remaining rival for dominance of the morning-newspaper market in Washington. As other families would learn in other cities across the country — the Chandlers in Los Angeles, the Coxes in Atlanta, the Knights in Miami and so on — dominance of the morning-newspaper routes would become a decades-long license to print money.
Owning the morning meant that the Post would thrive as afternoon newspapers fell to the competition of television news. (The last afternoon paper in Washington, the excellent Washington Star, winked out in 1981.) It meant that advertisers hoping to reach a broad Washington audience had no choice but to pay the Post’s steadily increasing rates. That day in 1954 was the key to everything the Post later became, Don told me one day about 10 years ago when we bumped into each other in the lobby. Watergate, all the Pulitzer Prizes, the foreign correspondents, the celebrity columnists — all of it was possible because the patriarch and his son-in-law managed to lock up the morning.
A couple more links on the Post sale:
James Fallows at The Atlantic: Why the Sale of the Washington Post Seems So Significant
I have known and liked Donald Graham and his family over the years; many of my friends in journalism have at one time or another worked at the Washington Post. My first reaction to news that the family had sold the paper is simple shock. But it is shock based not on my positive-but-not-deep personal connection to the paper and its people but rather on sheer generational disorientation.Readers below about age 40, who have known the Post only during its beleaguered, downsizing-its-way-out-of-trouble era, may find it hard to imagine the role it once played. Over the past decade-plus, the New York Times and theWall Street Journal have been the national newspaper organizations. It already seems antique even to use the word “newspaper” in such a construction, for reasons I don’t need to belabor now. But their flagship daily print publications make the NYT and the WSJ similar to the Financial Times and different from the other remaining ambitious news organizations — Bloomberg and Thomson Reuters, the broadcast and cable networks, NPR, etc.There was a time when you would automatically have included the Post in that first-tier national grouping. Other mainly regional or local papers were strong — the LA Times, the Chicago Tribune, the Boston Globe, and on down a nostalgic list. But more than any of the rest of them, the Post was fully in the national-newspaper derby and measured itself every day against the Times in talent level, depth and breadth of reporting, international coverage, sophistication, and all the other measures of a nationally ambitious operation. People who have started reading the paper in the past dozen years — rather, who have notstarted reading it — probably can’t imagine this difference in stature. But it is dramatic, and real.
“The pattern of a newspaperman’s life is like the plot of ‘Black Beauty,’ ” A. J. Liebling wrote. “Sometimes he finds a kind master who gives him a dry stall and an occasional bran mash in the form of a Christmas bonus, sometimes he falls into the hands of a mean owner who drives him in spite of spavins and expects him to live on potato peelings.” And sometimes, out of the blue, the ownership changes and you don’t know what the hell you’re getting in your bucket—fresh oats or cut glass.
At around 4:25 Monday afternoon, the staff of the Washington Post was summoned to the paper’s auditorium, a vast room where the presses used to be. The meeting would begin at 4:30 P.M., they were told. Donald E. Graham, the leader of the Graham family, which has owned the paper since Eugene Meyer bought it at a bankruptcy auction in 1933, stood solemnly before journalists who had been demoralized over the years by staff cuts, precipitous plunges in circulation, and endless dark rumors. It was a room full of reporters and editors, and yet, as one told me, “we thought we were there to hear that the Grahams had sold the building.”
In fact, Graham told them, in a voice so full of emotion that he had to stop a few times to gather himself, they were selling the Post and a handful of smaller papers—for two hundred and fifty million dollars, to Jeff Bezos, the founder and C.E.O. of Amazon, who is estimated to be worth more than twenty-five billion dollars. Graham asked the people there not to tweet, just to listen. The assembled were so stunned that when it came time for questions no one had any for a while; Graham had to urge them out of their silence.
“This was just plain sad. Now we belong to a guy who is so rich that the paper is around one per cent of his net worth,” a reporter told me soon after the meeting. “This was the family acknowledging that we can’t do it anymore and we have to give it to someone else. And we love the Graham family, we are proud of the family.”
It’s a long and interesting essay–read the rest at the link.
Neil Irwin and Ylan Q. Mui at The Washington Post write that Bezos paid more than he needed to for the Post.
The purchase price is richer than many of those paid for other legacy print media properties in recent years.
The New York Times Co. agreed to sell the Boston Globe to Red Sox owner John W. Henry for only $70 million. Newsweek sold for a symbolic $1, plus assumed pension liabilities, to billionaire Sidney Harman in 2011.
The Post “has a much stronger position in its market than the Boston Globe does,” said John Morton, an independent newspaper industry analyst. “It doesn’t surprise me that it would command a much higher price.”
Still, Morton suggested that the prominence and the visibility of The Post made Bezos willing to pay a higher price than would be justified by the paper’s finances alone. “I think probably Jeff Bezos was willing to pay a premium to make this happen,” Morton said. “. . . Bezos has enough money that if he wants to make it a hobby, he can.”
Interestingly, The New York Times apparently sold The Globe for less than they could have gotten. According to the AP:
BOSTON — Three bidders who fell short in their attempts to purchase The Boston Globe say they offered more than Boston Red Sox owner John Henry’s winning $70 million bid and criticized the decision of the seller, The New York Times Co., to make a deal with him.
Springfield television station owner John Gormally, West Coast investment executive Robert Loring and U-T San Diego chief executive John Lynch all said their groups’ bids bested Henry’s.
Henry agreed to pay $70 million to buy the Globe, the Boston Metro and the Telegram & Gazette in Worcester, about 50 miles from Boston. The bid, announced Saturday, was a fraction of the $1.1 billion the Times Co. paid 20 years ago.
Lynch said his group offered “significantly more” than Henry and wondered how the Times Co.’s shareholders would react after learning the company accepted a lower offer.
“I’m just stunned,” Lynch told the Boston Herald. “I thought this was a public company that had a fiduciary duty to get the most by its stockholders.”
Gormally says his bit was $80 million, but he admits that local ownership will probably be better for the Globe in the long run. Perhaps the Times wanted to do us Bostonians a favor.
I’m running out of space, so I’ll just add a few more stories in link dump fashion.Mark Ames on Vladamir Putin’s “human rights” record: Snowden’s Savior Announces Plans To Build 83 “Concentration Camps” Across Russia (link unlocked for 2 days)
A former student sues her high school for bullying she suffered–first lawsuit based on new Massachusetts anti-bullying law
Wendy Davis: Ready to ride for governor of Texas? (Christian Science Monitor)
How the World’s ‘Most Biodiverse Place’ Could Be Ransomed for Oil Money (Miami Herald via PBS)