FIRST AIRED: July 28, 2017

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Transcript

00:00:01
>> Laurene Powell-Jobs, the widow of Apple visionary and billionaire Steve Jobs, surprising many Friday, buying a controlling stake in The Atlantic. Powell-Jobs says she agreed to the investment in the 160 year old media company because she believes in the Atlantic's mantra to, quote, bring about equality for all people, and to, quote, illuminate and defend the American idea.
00:00:26
The deal includes The Atlantic monthly magazine and its related website, but not some other properties including Quartz, Government Executive and National Journal. She's not the only one to infuse tech money into a media industry that's struggling with declining ad rates. Amazon's Jeff Bezos bought the then troubled Washington Post four years ago.
00:00:46
The paper now in the midst of a revival thanks to breaking stories on the Trump administration. Before that, Facebook co-founder Chris Hughes had a short and ill-fated stint as the majority stake holder in the New Republic. But unlike those two deals, Powell-Jobs is getting in at a good time.
00:01:03
The company's president is making it clear The Atlantic is making money, readership is up and so are revenues. Powell-Jobs' ownership in The Atlantic puts her in a rarefied group of women who own a controlling stake in a major media company, old or new.