Title: The battle
between old and new media
This article is about the Jeff
Bezos, who is one of the richest men in the world, acquiring the Washington
Post for $250m (£164m), and it becoming controversial in terms of paying this
vast amount is not enough in the world of internet and New Media. The article
states that Bezos is worth $25bn according to Forbes. Bezos has invested a large
amount of money in to New Media. The article then goes to talk about journalism
and how the costs of the majority of big newspapers are much higher than new
media. Bezos outlines the changes of the industry that the internet has
transformed the news industry shortening news cycles, eroding long-reliable
revenue sources, and enabling new kinds of competition, some of which bear
little or no newsgathering costs.
Phrases/Facts:
Ø Facebook
itself invested $1bn in the photo sharing website Instagram back in April 2012.
Ø "For
the best part of 100 years, newspapers were a licence to print money, you could
sell the same words to readers and advertisers," says Tim Luckhurst,
professor of journalism at the University of Kent.
Ø For
the Washington Post, average weekday circulation is currently about 475,000, as
against almost 770,000 in 2002.
Ø "Good
journalism costs money. Newspapers need to take reporters off the diary to
chase stories. That can take months and might not even result in
anything," says Mr Greenslade.
Opinion:
In my opinion this article is
crucial in terms of how professionally trained journalists are able to procure
great news stories that cannot be lived up by citizen journalists as they are
not qualified, also it shows how even with the changing landscape there are
certain figures that want to stick with traditional forms of media, in this
case the Washington post. The fact that the article consistently plays up the
agenda that good and quality journalism costs more, presents the hinting to the
dumbing down of audiences with New and Digital media.
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