Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, is set to make another big investment in media.
The Emerson Collective, founded by Laurene Powell Jobs in 2004, is reportedly considering making an investment in the Buzzfeed media’s news division.
Laurene’s company purchased a majority stake of The Atlantic last year and is in talks to put a lot of money behind Buzzfeed’s online news machine too. With an estimated net worth of $20 billion, Laurene Powell Jobs has enough cash to scoop up pretty any newspaper or website she fancies.
The deal with Buzzfeed is in the preliminary stages, according to a report from the Financial Times. The site’s sources cautioned that a deal might not be completed at all.
Buzzfeed split its news and media businesses into separate units last year. The investment would be for the news unit which was recently hit by a wave of layoffs. Buzzfeed has long been dependent on Facebook to reach readers. New adjustments to the social network’s algorithm though has emphasized photos and status updates from friends over news posts.
Powell Jobs has become an advocate for the free press in recent years and stated that a vibrant and free press is “essential for the health and wellbeing of our democracy”.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
2 responses to “Laurene Powell Jobs considers Buzzfeed investment”
Hooray for Laurene Powell Jobs! Just as I was ALWAYS faithfully in Steve Jobs’ corner, and am still today still a faithfully brand loyal Apple customer, I am happy for Mrs. Laurene Powell Jobs for a number of reasons. The tragedy of losing her husband, with whom I have read she was so dearly close with, causes me great compassion for her – even though she doesn’t know me. Next, I am thrilled to know that she is not simply at home a comfortable, secure life because of the arguably historically unmatched business success/comeback. I’m glad that she has passions, business savvy, and is applying it in what appears to be the ‘slow build’ of a modern (trusted) news media empire. Good for her!! In a time so ripe for the picking. So desperate for REAL news, less slanted partisan agenda-influenced “news” and outright FAKE news. She stands a great chance of building a true TRUSTWORTHY News Source for the new Millennium. And if that is what she is doing, then God Bless her in doing it! Likewise, if I have misunderstood what she is doing, then still I hope massive great things for her. And for her (and Steve’s) son Reed Jobs.
I AM an Apple Inc. shareholder, and I have been for approximately 20 years. I do not write the above because I am a shareholder. Conversely, I am a shareholder because of the sentiments I have expressed.
A rag not fit to wipe shït with. Whatever would she see in that?