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Article

Title: Hard News

Author: Gunther, Marc Article Type: Product Analysis
Source: FORTUNE, v156 n3 p80(6) Publication Date: Aug 6, 2007
  ISSN: 0015-8259
URL of Publication: http://www.fortune.com

As Internet blogs and podcasts increase, the fate of dying newspapers everywhere might depend on Washington Post Company CEO Donald Graham as he tries to figure out how the Internet can save serious journalism. Most Washington Post reporters have become platform-agnostic, meaning that their bosses no longer believe in print. Graham is hurrying the paper into the digital future because he has to compete by exploring new avenues. Americas newspaper publishers, alarmed by declining circulation, advertising, and profits, are trying to figure out if they can separate the news from the paper and still be profitable. There are suddenly changes taking place in an industry that has seen no major changes since the debut of the USA Today in 1982. Turning the Internet from a threat into an opportunity is a long shot but the only hope for newspaper publishers. The first-class Washington Post has the best chance of reinventing journalism for the Internet, but the problem is easy to comprehend but hard to solve because the Posts pillarsrevenues from display and classified advertisingare deteriorating quicker than the Internet business is growing. Grahams primary accomplishment as CEO has been to reduce the Washington Post Co.s exposure to print, and he has highlighted the creative possibilities of online journalism. Don Graham will likely keep the Post in the family and do whatever it takes to keep it going. It is believed that his niece Katherine Weymouth, the Posts vice president of advertising, is being groomed to take over as the CEO. Graham says that people are going to be getting their news stories from someone ten or 20 years from now, it is just unknown who that someone will be.

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