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 ...
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.
Reminds me of the XKE Adds in Hemmings...
"Magnificantly restored XKE, $70,000 invested, will take offers in the $30,000 range, must sell Divorce...
He has over-invested ya it is old and posh, but like the XKE that is over-restored, it is a dinosaur in many respects.
And like the Divorce the breakup will be painful and expensive...
It will suck to be him...
It does not have to happen. It has a built in readership if it would just appeal to reason and reduce its pro democrat, pro Obama, anti-American liberalism.
Pravda on the Potomac
Except that if you buy it for one dollar, you still have to assume hundreds of millions in debt, plus pension and medical liability.
Chalk it up to TBCRTWA (Typing before carefully reading the whole article). I somehow associated Bezos with AOL.
He could have had the Boston Glob for only 93 million.
It will be a lost cause unless he can find an editorial policy to bring back the more reasonable and conservative readers. Otherwise it is doomed like all liberal, anti-American media. People have had enough of the liberal / progressive political agenda. The Post would have survived in my opinion if it had been more pro-American. Yes, that simple.
It is easy to manipulate the value of an asset with the power of the press simply by promoting or panning it. When government gets too democratic, manipulating majority opinion is a way to use government to manipulate asset value, whether by ginning up regulations, lawsuits, or simply calling into question product safety. Even the timing of a news release can control the degree of profit made in the stock market.
Hence, the power to manipulate public opinion is a profitable asset even if the advertising and subscription revenues do not support continuing operations. Power is effectively power for sale. Always has been.
I have leaned your way in the past, but the folks who like hard copy are aging. They’re not going to be with us much longer. More and more digital media is the way to go.
I do like your argument, but I’m just not sure it’s going to be the big factor it used to be for maintaining print media. Online, perhaps...
You raise an interesting point. One wonders what is or isn't available to them. I certainly would like to see one less leftist MSM outlet, and also some competition for Fox as well.