Jeff Bezos’ purchase of The Washington Post last month triggered all manner of articles and commentary in media around the country. As I am learning, nothing is more interesting to media types than other media types in the media. Of course, this is perhaps true in other professions, with the small distinction that not everyone gets the opportunity to read or hear about it in quite the same manner.
Print media generally has been in decline for a decade or more as the rise of the Internet has fundamentally altered the production and consumption of “news.” It is ironic to some that those who have made their fortune as a result of new media, like Bezos and Chris Hughes, a founder of Facebook who bought The New Republic in 2012, among others, are now returning to invest in print.
Some wonder whether these purchases will save the publication in question or hasten its demise. One commentator in the New York Times pointed out that Bezos is spending a very small percentage of his wealth on the Post and cannot possibly be expecting a return. The commentator speculated that it is only proper that one of the people who has most benefited from our current Gilded Age would now pursue the enrichment of society more generally through the pursuit of knowledge and community education more broadly. I suspect that this is exactly what Mr. Bezos has in mind.
Inevitably, a few friends have mentioned to me the parallel between my own prior career in an Internet-based company and my recent purchase of TheBurg. While flattering, there is, of course, no parallel in size, scope, influence or anything else, beyond a possible shared belief in engaged community reporting. I do acknowledge, however, that I have been very lucky in my career and that the “new economy” has treated me exceedingly well, perhaps disproportionately so, and that this fortune has given me the opportunity to encourage community improvement more broadly. To the extent that Bezos will “save” the Post and allow its staff to continue to do what it does best, for the benefit of the national community, without requiring a financial return or answering to the vagaries of the public financial markets, I congratulate him and hope to emulate his efforts on a local level.
The story also made me think once again about the reasons behind my purchase of TheBurg and about our key operating principles. They are as follows:
1. The mission of TheBurg is to provide responsible, engaged reporting on the people and places that make up our local community in the Harrisburg area, while setting a high standard for principled and integrative journalism. TheBurg will tell the stories of the 95 percent of what is right about our area, while playing a constructive role in trying to improve the 5 percent that is wrong.
2. The editor-in-chief and staff have complete editorial control, within the confines of our mission. If you ever see mug shots, sensational crime stories, inflammatory political coverage or Jerry Sandusky on the cover, you will immediately know that I am no longer the publisher. Beyond that, however, Larry, Paul and their staff make the story decisions and write what they want so long as it is accurate and fair. I may provide story ideas from time to time, but the stories you see are ones that Larry and his team have decided are newsworthy. Cynics may believe that I unduly influence coverage—as my staff’s community or political views may occasionally align with mine—but that is simply wrong.
3. TheBurg will achieve a break-even business model after a grow-in period. I bought TheBurg because, after four years, Larry and Pete told me that they could not financially sustain the paper. By stepping in and providing new financial resources, TheBurg has been able to grow its number of pages; greatly improve its design, graphics and website; and produce a leading monthly publication. However, it will eventually have to stand on its own to be sustainable long-term. In other words, it will have to break-even from an annual income and expense standpoint. I do not expect or even wish to earn a financial return publishing TheBurg. I also do not expect or wish to lose money on a continual basis. I have already told our staff that, due to our impressive content and business side improvements this year, I will support TheBurg financially through 2014. However, we continue to have much work to do to reach financial sustainability.
4. TheBurg will be a force for positive change within the wider community. Unlike other suburban media outlets that consistently tell you what is wrong with Harrisburg, without suggesting ways to improve it, I firmly believe that a community newspaper is an actor in the community, not merely an observer of the community. What we say and what we print do matter to those who live here and those who visit us from outside. The community ethos, if you will, stems in large part from the stories we tell each other, about ourselves. TheBurg will do its part of that storytelling in an engaged, productive and principled manner. The alternative of the disengaged critic leads to cynicism and ultimately despair, which tears down the community. My belief is that this model also rests chiefly on a failed business model built upon the false perception of people’s desire for sensation and controversy over thoughtfulness and consensus-building. I believe that a strong community, like Harrisburg, deserves a positive voice that accurately reflects the great strengths we have to offer, not a forum for the lowest common denominator and for commentators seeking to display their ignorance and grievances.
That is why I bought TheBurg. I hope you have been enjoying our work this year as much as I have.
