Amazon CEO, Jeff Bezos Buys The Washington Post for $250 million

jeff-bezosThe Washington Post just confirmed Amazon CEO, Jeff Bezos acquired it and its publications for $250 million in cash! According to the announcement, Amazon  ”will have no role in the purchase.”

Bezos, one of the richest men in the world, “will buy the news organization and become its sole owner when the sale is completed, probably within 60 days.” The announcement also states The Post Co. will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter.” That, my friends, is what scares me about this.

The Washington Post has been owned by the Graham family for generations until now.

“The Post could have survived under the company’s ownership and been profitable for the foreseeable future. But we wanted to do more than survive.”

- Post Co. CEO, Donald Graham

“I won’t be leading The Washington Post day-to-day,” says Bezos in a letter to employees, but “there will of course be change at The Post over the coming years…we will need to invent, which means we will need to experiment.”

What do you guys think?

Source: Engadget

Faridah Demola-Seriki

Faridah Seriki has been interested in technology since she got her hands on a desktop when she was eight. She founded Technesstivity after releasing a successful blog she made for class combining her passion for both journalism and technology. Faridah graduated from Vivian Fowler in 2009 and lives in New York where she graduated from Hofstra University with a Bachelors degree in Broadcast Journalism

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