That’s okay. I give it about three years before he’s selling it for 10 cents on the dollar.
I hope so. He only bought it for political influence.
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).
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?
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.
I agree it's a terrible investment, but $250 million is about one hundredth of his wealth. This is his ticket to political influence and a more powerful social circle. Or maybe he'll give it to his wife so she can have a hobby.
Bezos bought the WaPo to influence legislation and the legislators that vote on it.
He wants the Marketplace Fairness Act passed in the House (already bought it’s passage in the Senate from Dirty Harry).
The MFA will seriously disadvantage small local businesses expanding onto the internet, leaving Bezos in control of the internet retail market and selling his services to those small entrepreneurs who sign up to be AZ affiliate sellers because the MFA makes it to difficult, confusing and expensive to do it on their own.
This is collusion and corruption between big business, big media and big government. Crony crapitalism is going to serve the rest of us a turd sandwich.
Obama sees the MFA as a cash cow that will save the profligate dem controlled states that are nearing bankruptcy (NY, CA, MA, etc).