Skip to comments.Washington Post to be sold to Jeff Bezos
Posted on 08/05/2013 1:40:07 PM PDT by Second Amendment First
The Washington Post Co. has agreed to sell its flagship newspaper to Amazon.com founder and chief executive Jeffrey P. Bezos, ending the Graham familys stewardship of one of Americas leading news organizations after four generations.
Bezos, whose entrepreneurship has made him one of the worlds richest men, will pay $250 million in cash for The Post and affiliated publications to the Washington Post Co., which owns the newspaper and other businesses.
Seattle-based Amazon will have no role in the purchase; Bezos himself will buy the news organization and become its sole owner when the sale is completed, probably within 60 days. The Post Co. will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter.
(Excerpt) Read more at washingtonpost.com ...
Because it wasn’t liberal enough?
Does this mean we can read WaPo for free on the Amazon.com site now?
That’s okay. I give it about three years before he’s selling it for 10 cents on the dollar.
From one liberal to another. Much ado about nothing—except Bezos will have cash to pour into it.
"Amid the boisterous fallout over the president of Chick-fil-As comments against gay marriage comes another business leader taking a very different stand on the controversial issue. Amazon founder and CEO Jeff Bezos has donated $2.5 million to help pass a same-sex marriage referendum in Washington state. Same-sex marriage was legalized in the state in February, but opponents got enough signatures to put the law in front of voters."
Here comes the new boss, same as the old boss.
Now it will become a real lefty rag.
Expect WaPo CDs to arrive in the mail, every other week.
Q: How is a liberal newspaper like a swimming pool?
A: They are both holes in the ground that you pour money into.
He must need a tax write-off............
Wealthy Lefties trying to save failing Liberal Rags appears to be the official meme of the day.
Jeff must be needing an excuse for getting as far away as he can from his old lady in Seattle on a regular basis.
I could not resist. “Dinosaur Media Death Watch”
Oh how the mighty phrases have fallen.
You gotta 'splain that one?
My first thought was that the Democratic Party purchased it.
But, I realized that there was no reason to waste money on something that already is well inserted up the Obamabutt.
Maybe, I remember getting a sh!tload of AOL CDs but never one from Amazon.
I hope so. He only bought it for political influence.
Yes, but only on a Kindle Fire.
And what are the less talented members of the Graham family going to do with their lives now?
There's only room for so many of them in Congress ...
Of course, if anyone has a good idea of what is going to transpire, it would be Bezos.
My guess is that other papers will now trade off this transaction's pricing (until the market can see the actual results in profitability of Bezo's plans for the Post).
Another Sugar Daddy steps up to keep a propaganda ministry afloat.
Or with Amazon Prime. You can get the newspaper delivered via expedited two-day shipping at no additional cost.
TV Advertising surcharge - great way for red states to raise money from liberals.
All super-wealthy people need a media outlet
Either to promote their own interests, tell a story how they want it told, protect themselves from extortion, threaten uncooperative politicians, or to become a member of the establishment and play ball with them.
$250 million is chump-change for Bezos, but he immediately becomes a player in Washington DC. He won’t expect to make money with the Compost - probably only hopes to keep losses to a minimum.
What happened to Buffet’s stake?
Well, if anyone can keep WAPO’s doors open when it isn’t earning any money, it’s Bezos.
I do this over joining the political contributions circuit in Washington.
Fools and their money.
I shall fire the entire editorial staff and will hire some Freepers to produce the editorials. I will run a "Caption This" contest on the front page and let people submit their captions online. Whoever comes up with the best caption of the day will win a free steak dinner at Sparks Steakhouse.
It will be a fun hobby for me and I'm looking forward to it. I might even get to hang out at Martha's Vineyard with the "beautiful people" every once in a while.
That’s the trend, but consider that selling the WaPo for “only” $250M a dozen years ago would have been a steal. My local rag is published by a broke outfit that owns 237 daily newspapers and a bunch of other crap, yet the enterprise value of the whole shooting matching match is less than $4 Million. Literally pocket change for a new owner, but who’d want it?
And in other news, Politico was sold to Karl Marx
I agree. I still maintain that if done properly, a local ‘even large’ newspaper can survive in the print format. I’m sure not going to bet this amount of money on that premise though.
What was it that Bob Woodward was saying about Obama last year? I think that it was about the sequester, Woodward was critical of Obama and the Obama administration was unhappy. I believe that Woodward even claimed that he had been threatened by a senior Obama administration official.
I guess that Bezos is going to make sure that doesn’t happen again and also take over the Obamacare public relations at the same time.
I hope he spends a boatload of money trying to keep it afloat.
It looks like the Graham family were able to keep the profitable companies that were keeping the Post afloat.
Is this from The Onion?
Bezos will include it with Amazon Prime so they can really target the ads.
Can I say this? BFD! From one level of liberal BS to the next, it’s beginning to look like the MSM is aspiring to become yet another of Dante’s circles . . .
I don’t honestly know much about the Post, it’s extended holdings and the like. I’d have to think they figured in, especially after the Boston Globe sale.
The paper can’t be worth that much on it’s own.
That’s an interesting take on the value of other papers, now shored up to some extent by this large price-tag.
I still can’t believe the Boston Glove isn’t a drag in the other direction though.
We’ll see. This guy, by paying this price, may bankrupt a lot of people based on his over-evaluation, if it indeed does turn out to be one.
If they would announce an editorial policy more realistic, more pro-American, and more conservative, I would re-subscribe immediately. Liberalism must diminish.
Of course not, the Onion is a serious newspaper compared to the Washington Compost.
But super-wealthy people like the Koch brother need not apply as their not allowed to own any of the flagship media.
Bezos is buying stuff because his stock(like others) is way overpriced. He is playing with “funny money”
Yes, who would want it. I agree.