Everyone knows that newspapers are in a state of decline, in large part due to the rise of online media. So, you would think that perhaps you’d see prominent new media execs joining the ranks of old media companies to try and right the ship. But at Facebook, it’s the other way around, as Washington Post CEO Don Graham is joining the company’s board of directors.
The obvious conclusion to draw from this appointment is that Facebook has ambitions as a media company, and bringing on someone with extensive experience in that department – Graham has been CEO of the Post since 1991 – could be helpful. Graham joins other Facebook board members Jim Breyer and Peter Thiel - early investors in the company - as well as Netscape and Ning founder Marc Andreessen.
So, what knowledge might Graham bring to the table that could be helpful? The Post - which also publishes Newsweek - has held up surprisingly well versus some of its old media counterparts, in part because of its timely adoption of new media, and Graham likely has some perspective on how Facebook can help old media transition into the digital age.
With Facebook moving outside its own social network with products like Facebook Connect, having a media veteran like Graham on the team could certainly help them navigate the old media world and design solutions that they’ll adopt. So, while on the surface the appointment might seem odd, it actually makes a lot of sense given where Facebook appears to be headed.
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