The Last Great Newspaper War?

PostCheck out James Warren’s Vanity Fair piece, “Is The New York Times Vs. The Washington Post Vs. Trump The Last Great Great Newspaper War?

The answer to Warren’s question just might be “yes.”  Here is a taste:

The financial models at the two newspapers are different, and so is what they are selling. The Post, whose coverage is Washington-driven, can never hope to match the Times’s range across culture, business, and international affairs, and the Times, whose total revenues are less today than they were a dozen years ago, cannot hope to match the deep pockets of Jeff Bezos, who sometimes earns more in a few hours, if Amazon stock goes up, than he paid for his newspaper to begin with. (Bezos made $2.5 billion—10 times what he had paid for the Post—in the two hours after Amazon’s takeover of Whole Foods was announced.) The Post is more advanced technologically than the Times and seems to recognize that the true competition, as publisher Fred Ryan Jr. put it, is “anything that engages you in your non-sleeping hours.” But both papers are ultimately built on people paying for quality.

You can argue that Trump has bought both newspapers some time—which makes you wonder if their success will continue once Trump is no longer an irresistible and unsettling object of scrutiny. Will even the world’s second-richest man lose his passion somewhere down the road? Will the fifth generation of a newspaper family be done in by what is, essentially, their one and only revenue stream? The leaders of both newspapers say they will continue to double down on content. The Times is now available in Spanish and Mandarin, with big plans in places as diverse as Mexico and Canada, Hong Kong and Australia. On the margins it hopes to generate additional revenue with gimmicky ventures such as around-the-world trips by private jet (for $135,000 a person) in the company of Times journalists.

TimesBut an existential threat is already apparent: many Americans won’t believe a thing either newspaper says, no matter how great the accuracy, attention to detail, or fair-mindedness. The sharp uptick in Times and Post readership may obscure a larger cultural change. The unequivocal evidence of Russian involvement in the presidential campaign exemplifies the state of play. In June, a Wall Street Journal-NBC News poll showed that more than half of those surveyed believe that the Russians interfered in the presidential election, with about one-third believing it influenced the outcome, and more Americans buying Comey’s explanation of his dismissal than Trump’s. But half think the press has been overly dramatic and irresponsible in its Russia-related coverage, with two-thirds of Republicans simply not believing that the Russians interfered at all, despite evidence assessed by four different U.S. intelligence services. Dig deeper and you find that, while 89 percent of Democrats believe in the importance of the media’s “watchdog” role, only 42 percent of Republicans do, according to the Pew Research Center. It is the widest gap that Pew has ever seen. What’s astonishing is that in early 2016, according to Pew, Democrats and Republicans essentially agreed on the role of the press, with Republicans (77 percent) actually outpacing Democrats (74 percent) in their support.

Read the entire piece here.