How greed killed The Weekly Standard

Even the most public-spirited wealthy media owners are not perfect. Jeff Bezos has revived The Washington Post, but working conditions — though not as bad as those in, say, an Amazon warehouse — are hardly as good as they could be at a news organization that is reportedly growing and profitable. John Henry, frustrated by ongoing losses at The Boston Globe, has hired a union-busting law firm in an attempt to bring costs into line — as if that’s going to make for a better, more financially sustainable Globe.

But you’d have to go a long, long way to find an owner as awful as Philip Anschutz, who last week killed The Weekly Standard, reportedly so that he could raid its subscriber list and use it to pump up his Washington Examiner.

The Standard, a political magazine founded in the mid-1990s, has been a leading voice of #NeverTrump conservatism. The Examiner is considerably more pro-Trump. Anschutz is entitled to go full #MAGA, of course. But according to John Podhoretz, one of the Standard’s co-founders, Anschutz actually stood in the way of a possible sale because he wanted the Standard dead and gone lest it compete with the Examiner. Podhoretz writes:

That this is an entirely hostile act is proved by the fact that he and Anschutz have refused to sell the Standard because they want to claim its circulation for another property of theirs. This is without precedent in my experience in publishing, and I’ve been a family observer of and active participant in the magazine business for half a century.

Podhoretz was understandably so filled with rage that he either forgot or refused to name who “he” is. But I assume he’s referring to Anschutz henchman Ryan McKibben, who pulled the trigger last Friday.

As I argued on “Beat the Press” on Friday (above), political magazines like the Standard, National Review, The New Republic and The Nation have never made money. Rather, they have depended on wealthy owners to subsidize them. The losses are relatively small because the magazines themselves are shoestring operations.

The Standard didn’t die because it was losing money — it was supposed to lose money. Instead, as Podhoretz writes, it was murdered.

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