Washington post owned by Amazon.com, Inc. (NASDAQ:AMZN) chief, Jeff Bezos, is reportedly planning to become a software provider seen as another potential revenue stream. Bloomberg’s Brendan Greeley believes that Bezos will look to raise the technology profile of the Washington post something that Chris Hues has failed with The New Republic.
“I am willing to bet that Jeff Bezos can pull it off where Chris Hughes couldn’t. It is a much better franchise but also to his credit he is managing the editorial staff we are very prickly we are not handled correctly. He has added new editorial staff he has assured people they are going to be around for a long time,” said Mr. Greeley.
Since being bought by Amazon.com, Inc. (NASDAQ:AMZN) chief, the Washington post has accelerated its search for digital revenues and has now been approached about licensing a software that it has been using to power its website. The software continues to gain public appeal seen by student newspapers at Columbia and Yale University using it on a free trial with a view of trying to see how it can be used for other professional services.
A licensing business is sure to be good for the post on its efforts to generate digital profits as the entire print business continues to shrink. Bezos investment in the post is a clear indication of how focused he has always been on pursuing growth opportunities seen by Amazon.com, Inc. (NASDAQ:AMZN), which has consistently pursued growth opportunities. Washington Post is looking to reduce its reliance on the print advertising business, which is expected to record a further decline in revenues this year and in the years to come.
In the short run, print will continue to provide a much-needed revenue for sustaining most of the businesses in the space as focus slowly starts to shift to digital. Bezos is believed to have injected a lot of money into the post with the addition of more staff, as well as the creation of more digital products including an app on Amazon.com, Inc. (NASDAQ:AMZN)’s fire tablet.
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