Amazon Founder Jeff Bezos Will Purchase The Washington Post for $250 Million

Washington Post ^ | Agust 6, 2013 | Max Ehrenfreund

[lbryce]

The Washington Post’s parent company announced Monday that it will sell the newspaper to technology magnate Jeffrey P. Bezos for $250 million in cash. Bezos is one of the wealthiest people in the world and the founder and chief executive of Amazon.com. The deal ends the Graham family’s control of The Post, which has endured for four generations:

The deal represents a sudden and stunning turn of events for The Post, Washington’s leading newspaper for decades and a powerful force in shaping the nation’s politics and policy. Few people were aware that a sale was in the works for the paper, an institution that has covered presidents and local communities and gained worldwide attention for its stories about the Watergate scandal and, in June, disclosures about National Security Agency surveillance programs.

[lbryce]

It was the same 80 years earlier, when Meyer, a wealthy native Californian, sent a representative to the steps of The Post’s former headquarters on E Street. His winning bid for the bankrupt newspaper was $825,000, and he was not disclosed as the new owner for 12 days.

SNIP

(The new owner, Mayer)He stressed the “independent” part to dispel rumors that the paper would become a mouthpiece for the Republican Party.

He certainly proved his point about maintaining the "Post's independence" by quashing rumors that the paper would become "a mouthpiece of the Republican Party". I don't ever recall the Washington Post being accused of being a Republican "mouthpiece".

[faithhopecharity]

odd that Bezos would even want the damned paper?
its not like he doesn’t understand money or business or....
wonder what he has in mind?

[Mr. K]

I would love to see him turn it into an honest news business and watch its stock soar

[JimRed]

All he has to do is fire the editorial staff and most of the reporters and replace them with real journalists- IF he can find any!

[faithhopecharity]

Agreed! He COULD turn the washPost into a real, honest newspaper and.. it could prosper tremendously.

(I just hope his personal leftist politics, combined with the current leftist editorial/”news” slant at the paper, doesn’t result in just a continuation of it as a crappy leftist propaganda rag...) in other words, will Bezos just keep the washPost the way it is , for political reasons, or will he run it like an honest business (and make tons of money from it)?

[COBOL2Java]

Here's the story from the other side of town:

Washington Times: Amazon’s Bezos buys Washington Post for $250M

[martin_fierro]

ew people were aware that a sale was in the works for the paper, an institution that has covered presidents and local communities and gained worldwide attention for its stories about the Watergate scandal and, in June, disclosures about National Security Agency surveillance programs.

I find them more noteworthy for all the Democrat scandals they didn't cover.

[Vigilanteman]

Same old sh*t in a shiny new bag is still the same old sh*t.

[martin_fierro]

One more reason not to buy a Kindle.

[Proud_texan]

My father always told me:

"I love rich people. First no poor man ever gave me a job and second rich people will give you money for doing the craziest jobs. Never question them, they might stop."

Granted the money going to the Graham family doesn't fit this but maybe the crazy part does. At least it's money Bezos won't have for liberal causes.

Just might be that he believes he's as smart as his press and that he knows better. I think there have been a couple of people that have gotten into old media that thought that...and found reality. Even somewhat more media savvy Diller bought Newsweek.

[Resolute Conservative]

Rush spent fair amount of time on this today.