Jeff Bezos, bought the Washington Post. He has long showed a willingness to take a long term view at Amazon. He is taking that same thinking to the Washington Post:
The newspaper business is certainly a tough one today – one that doesn’t seem to have a business model that is working well (for large, national papers). I figured the answer might be that a few (of the caliber of Washington Post, New York Times…) would be owed by foundations and supported largely by a few wealthy people that believed in the value of a strong free press and journalism. Maybe Bezos will find a business model that works. Or maybe he will just run it essentially as a foundation without needing a market return on his investment.
The Guardian (where the article with the quote was published) is an example of good journalism by a foundation. ProPublica is another (though I guess it is really a non-profit but most of the funding seems to be via foundations).