1. The Return of the Moguls
Can a new breed of newspaper owner reinvent journalism?

2. Aaron Kushner
Greeting card executive tried to purchase The Boston Globe

3. Aaron Kushner
Greeting card executive tried to purchase The Boston Globe
Nearly closed on the Portland Press Herald until unions killed deal

4. Aaron Kushner
Greeting card executive tried to purchase The Boston Globe
Nearly closed on the Portland Press Herald until unions killed deal
In 2012, Kushner acquired the Orange County Register

5. The Kushner agenda
Emphasis on print — even the quality of the paper was improved

6. The Kushner agenda
Emphasis on print — even the quality of the paper was improved
Hiring spree, more papers, launches in Long Beach and LA

7. The Kushner agenda
Emphasis on print — even the quality of the paper was improved
Hiring spree, more papers, launches in Long Beach and LA
Forced out in early 2015, now owned by Digital First Media

8. Was Kushner wrong?
Still a great deal of value in print — not wrong to think a bigger, better paper would do well

9. Was Kushner wrong?
Still a great deal of value in print — not wrong to think a bigger, better paper would do well
Adding 150 journalists to a staff of 180 before revenues had materialized was not sensible

10. Was Kushner wrong?
Still a great deal of value in print — not wrong to think a bigger, better paper would do well
Adding 150 journalists to a staff of 180 before revenues had materialized was not sensible
Unlike Bezos and Henry, Kushner was operating on borrowed money

11. John Henry
Financier and Red Sox owner purchases The Boston Globe in 2013

12. John Henry
Financier and Red Sox owner purchases The Boston Globe in 2013
Bought by New York Times Co. in 1993 and lost nearly all its value

13. John Henry
Financier and Red Sox owner purchases The Boston Globe in 2013
Bought by New York Times Co. in 1993 and lost nearly all its value
Had suffered fewer cuts than many major metro newspapers

14. The Henry agenda
Pump up the print product with new sections like Capital

15. The Henry agenda
Pump up the print product with new sections like Capital
Launch new online verticals such as Crux and mobile-first Stat

16. The Henry agenda
Pump up the print product with new sections like Capital
Launch new online verticals such as Crux and mobile-first Stat
Revenue woes, delivery and printing fiascos have taken a toll

17. A back-to-basics strategy begins to emerge
Move operations to more efficent space, saving $30 million a year (10 percent of revenues)

18. A back-to-basics strategy begins to emerge
Move operations to more efficent space, saving $30 million a year (10 percent of revenues)
Charge digital subscription rate of $30 a month, taking advantage of “Trump effect”

19. A back-to-basics strategy begins to emerge
Move operations to more efficent space, saving $30 million a year (10 percent of revenues)
Charge digital subscription rate of $30 a month, taking advantage of “Trump effect”
Reinvent the newsroom so that fewer resources can be deployed more efficiently

20. Jeff Bezos
Said he would buy The Washington Post days after Henry’s news

21. Jeff Bezos
Said he would buy The Washington Post days after Henry’s news
Pressures of running a public company overwhelmed Grahams

22. Jeff Bezos
Said he would buy The Washington Post days after Henry’s news
Pressures of running a public company overwhelmed Grahams
Bezos took the Post private, independent of his Amazon holdings

23. The Bezos agenda
Wide distribution via regional papers, Kindle Fire and Amazon Prime

24. The Bezos agenda
Wide distribution via regional papers, Kindle Fire and Amazon Prime
Beat The New York Times as the largest quality digital paper

25. The Bezos agenda
Wide distribution via regional papers, Kindle Fire and Amazon Prime
Beat The New York Times as the largest quality digital paper
Under Marty Baron, pursue excellence and clickbait simultaneously

26. The customer engagement funnel

27. The Facebook barbell

28. The rise of alternatives
Billionaire owner Gerry Lenfest donates the Inquirer to a nonprofit

29. The rise of alternatives
Billionaire owner Gerry Lenfest donates the Inquirer to a nonprofit
In Burlington, Vermont, a media ecosystem now supplements the daily

30. The rise of alternatives
Billionaire owner Gerry Lenfest donates the Inquirer to a nonprofit
In Burlington, Vermont, a media ecosystem now supplements the daily
Next-generation metrics such as time spent may revive advertising