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