Transcript
A (0:00)
This is Scott Becker with the Becker Business and the Becker Private Equity podcast. Today's discussion is the Washington Post and what's wrong with the media. So the short term issue with the Washington Post is it's struggling tremendously in facing massive layoffs. The bigger picture and the more interesting story reflects on how broken the media is. When Washington Post had a clear political direction, it was clearly to the left. And this is not. I'm not a fan of this being far to the left or far to the right, but financially it did just fine. It struggled some, but overall did fine. It's sort of why Fox News picks one direction. MSNBC and CNN as well as Washington Post. New York Times pick a different direction because they know they have their loyal followers. More recently, the Post, Washington Post, a little bit like cnn, chose to pivot one bit towards the middle. This was most evident as a strategy. It became very clear when the paper chose to endorse neither President Trump or Kamala Harris in the last election. They chose to sort of pivot to the middle and avoid the headlines. Some would say it was kowtowing to President Trump. Others say it was a strategy to get closer to the middle. Either way, the move to the middle cost Washington Post a huge amount of subscribers. Of its subscriber base, it lost almost a third of its subscribers. One could say it lost that base because either kowtowed towards President Trump or because it moved to the middle. Either way, it got crushed. So what? The lesson you learn as a media company that's taken a position or a side is you have to stick with that side once you've taken it, because that's where your pay comes from. So when people ask why is Fox and NBC so focused on their core and not balanced at all, it's ultimately because the core pays their bills. And this situation with the Washington Post is a harsh reminder of the penalty for going against your base. It's not a good thing, but it is a very strong tell of caution to big media outlets that forget their base, even if being cows onto their base is such a horrible thing. Fascinating to watch. Thank you for listening to the Becker Business and the Becker Private Equity podcast. Thank you very, very much.
B (2:13)
Hey, Sal. Hank. What's going on? We haven't worked a case in years. I just bought my car at Carvana and it was so easy. Too easy. Think something's up? You tell me. They got thousands of options, found a great at a great price, and it got delivered the next day. It sounds like Carvana just makes it easy to Buy your car, Hank. Yeah, you're right. Case closed. Buy your car today on Carvana.
A (2:41)
Delivery fees may apply.
