The surprise sale of the venerable Washington Post by the legendary Graham family this week has elements of both gloom and hope for those of us who value daily newspapers – and those who work for them.
As a former employee of the L.A. Times, when it was Times Mirror Corp., I blogged about it in detail this morning at In the (K)now blog in:Surprise sale of Washington Post has Los Angeles on edge.
The Washington Post sale certainly is a significant chapter in the evolution of daily newspaper ownership away from the control of family dynasties like the Grahams, an evolution that actually began 13 years ago when the Chandler family sold the Los Angeles Times to Tribune Co. for $8 billion.
The question on every Angeleno’s mind today is: Is the L.A. Times next?
The answer is: Very possibly, if Tribune Co. reopens the bidding.
Earlier this year it was widely reported that the infamous Koch brothers – the far-right-wing activists who have limitless resources and the willingness to spend then to further their political goals – are interested in acquiring one of the most important institutions on the West Coast.
Also rumored to be interested was Rupert Murdoch, and he needs no introduction. What he has done to The Wall Street Journal and the media landscape in both the U.S. and the U.K. is abominable.
It would be a disaster of unimaginable proportions if any right-wing conservative with mountains of cash were to get his hands on the L.A. Times.
Let’s hope a white knight like Jeff Bezos (perhaps Warren Buffet or Eli Broad) comes to its rescue.
Back in May I first suggested that Buffet would be the best new owner on In the (K)now blog with my appeal: Save the Los Angeles Times from ultra-conservative takeover.”
Since then, Tribune Co. put the sale on hold, but it will eventually happen.
Those of us in L.A. who care about the Times and the community it serves are truly worried about its future. So are all my former colleagues who still work there.