VandeHarris: EconomicPrincipals.com’s Take
From here:
The threat of entry by new competition is very real: Harris, 43, and VandeHei, 35, will join a start-up Washington newspaper called The Capitol Leader, backed by Allbritton Communications, which had, for a time, been proprietor of a now defunct broadsheet of good reputation, The Washington Star (it was the city’s leading daily until the Post overtook it in the 1960s). The two journalists immediately contracted to appear regularly on the CBS television network (Allbritton owns a number of ABC-affiliated television stations, including its Washington outlet). Their paper will compete with two well-established political dailies, Roll Call and The Hill. But the heart of the new enterprise will be an as-yet unnamed Website, similar, perhaps, to The Hotline (owned by National Journal), The Note (owned by ABC) and other online portals that in recent years have modernized political coverage by agglomerating and commenting on it. Some new businesses can grow quite large. The all-time champion entrant in new media is Michael Bloomberg, now mayor of New York and potential presidential aspirant, who, starting in the 1980s, turned a database of bond prices into a media juggernaut to rival Dow Jones and The Wall Street Journal. With 1600 editors and reporters in 94 bureaus around the world, Bloomberg says it is the third largest news organization in the world, after the Associated Press and Reuters.
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Nadine Cheung
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