On August 05, 2013 Robert Barnes and David A. Fahrenthold, wrote in The Washington Post:
It began with a bankruptcy sale in 1933, when a [...] businessman [...] reinvented himself as a newspaper (The Washington Post) publisher in the nation’s capital. It ended with an announcement that his descendants had sold the newspaper to an Internet wizard (Jeff Bezos, founder of Amazon.com) [...] The Washington Post and the family collectively known as the Grahams became inseparable, indistinguishable. (…) The Post, they said, would be better off with somebody else. [...] “We were certain the paper would survive under our ownership, but we wanted it to do more than that. We wanted it to succeed.“
There are many reasons why people sell their companies. We know that changing the life style, need for more time for personal life, not wanting to manage a growing company or not being able to cope with the challenges of a fast changing world are among the most frequent reasons.
If your family has owned a business for many decades –in case of The Post 100 years- it is not easy to share the real reasons with the public. When I hear a statement like “We could have continued it too but we wanted it to succeed.” I understand it as “We cannot do it anymore, hopefully they can.”
And how should one measure the success of Mr. Bezos in The Post?
To read the whole article by Robert Barnes and David A. Fahrenthold please click here.
The oldie of the week: Bee Gees – Tragedy (1979)