WaPo seeks acquisitions to grow the company

For the past several years, The Washington Post has sat out the deal fervor that has swept through much of the media industry, but The Post’s chief executive, Will Lewis, pictured above, now appears interested in changing that, reports the New York Times.

According to The Times: “Mr. Lewis, who took over in January, has told confidants that he has a mandate from the company’s owner, Jeff Bezos, to grow the newspaper, including through acquisitions, three people familiar with the matter said. In recent months, the company’s head of corporate development has met with a variety of technology and media companies, exploring deals that could help The Post expand its revenue and subscriptions, one of the people said.

“In scouting for deals, The Post is following in the footsteps of other media companies, including The New York Times and The Wall Street Journal, that have bought companies that complement their core news businesses, the three people said. The overall goal is to create a growing subscription-based business that is insulated from the vagaries of the news cycle, which can wax and wane throughout the year.”

More here.