In the media
Yahoo Finance: Why tech billionaires are buying American newsrooms
1 October 2018
Marc Benioff, CEO of American cloud computing business Salesforce, last month became the latest technology entrepreneur to take control of a major news organisation after buying Time Magazine for $190 million.
Prior to this, Amazon Founder Jeff Bezos purchased The Washington Post, and Laura Powell Jobs, widow of Apple founder Steve Jobs, bought a majority stake of The Atlantic.
“It seems to be a growing phenomenon of newly wealthy owners of big tech companies. For some reason they’re attracted to old-fashioned legacy media”, said Professor Barnett.
“If you’ve been disturbed by some of the populist, white-nationalist tendencies in some social media, then I can see why you might be drawn to having a hand into what news is being created”, he explained.
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