Wall Street Journal (August 7)
“The most striking fact about the recently announced sale of the Boston Globe and Washington Post is their low prices…. The prices reflect the decline of newspapers as a business in the Internet age, which is the kind of creative destruction millions of Americans have experienced. Disruption is the price a capitalist economy pays for innovation, and the news business is merely the latest example.” The new owners should be welcomed as they provide “an opportunity for new ideas and perhaps a turnaround.”
Tags: Boston Globe, Capitalism, Creative destruction, Decline, Disruption, Ideas, Innovation, Internet, Newspapers, Opportunity, Owners, Prices, Turnaround, Washington Post