The new owner of the Globe is one of a number of wealthy, newly minted newspaper owners who believe journalism is vital to a community and newspapers are not lost causes. Like Amazon.com founder and Chairman Jeff Bezos at The Washington Post and former greeting-card executive Aaron Kushner at the Orange County Register,Henry speaks of spending money to make the paper more vital rather than engaging in round after punishing round of cutbacks that weaken the product.
Henry, who purchased the paper for the fire-sale price of $70 million, also wants the Globe and its websites, BostonGlobe.com and Boston.com (including its stunning photo journalism site, The Big Picture), to play a key role in the quest for an elusive new business model for journalism.
Ownership by wealthy individuals rather than publicly held companies that are so wedded to the quarterly numbers give these institutions what Bezos calls "runway," time to look for creative solutions to the thorny problems that plague the industry.
Photo Credit of the FB page of The Big Picture