Further reading:

Applaud the Grahams, but acknowledge their failures. The praise gets a bit out of hand.

Jeff Bezos’s landmark purchase of the Washington Post. We’ve now officially entered the Billionaire Savior phase of the newspaper collapse—for good or ill

The Washington Post’s pension math. The Grahams didn’t effectively pay to unload the paper.

The Washington Post Co.’s Self-Destructive Course. Dividends, share buybacks, and an anti-paywall stance help bleed the paper dry.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.