11/04/2013 02:31 pm ET

Why Pierre Omidyar and Jeff Bezos' Media Purchases Are Great News For Journalism


Perhaps the biggest news story in American journalism so far this year is the huge infusion of cash it has received, more than half a billion dollars, from American tech leaders. Founders of eBay, Amazon, and Facebook are among a growing group of tech entrepreneurs who want to build a bright new future for American media, and they are putting their minds—and their checkbooks—to the challenge. Pierre Omidyar’s $250 million investment in a new digital media company came on the heels of Jeff Bezos’s purchase of The Washington Post for a similar amount. Their goal? To overhaul the business model—and the focus—of our fourth estate.

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