Amazon CEO Buys Washington Post

August 7th, 2013 by James

Jeffrey P Bezos has agreed to buy the newspaper assets of The Washington Post Company for USD 250 million. This would be the maiden entry of the Amazon founder and chief executive officer into the newspaper industry.

Amazon CEO Buys Washington Post

“This will be uncharted terrain and it will require experimentation,” he said in an interview to The Washington Post. “There would be change with or without new ownership.

But the key thing I hope people will take away from this is that the values of The Post do not need changing. The duty of the paper is to the readers, not the owners,” he said.

“This is a day that my family and I never expected to come. The Washington Post Company is selling the newspaper that it has owned and nurtured for eight decades,” The Washington Post publisher Katharine Weymouth, said in a note to Post employees.

In the last few years, the newspaper industry has seen a decline in circulation and a drastic drop in print revenue.

Bezos himself will buy the news organization and become its sole owner when the sale is completed, probably within 60 days and the Seattle-based Amazon will have no role in the purchase.

“The rise of the Internet and the epochal change from print to digital technology have created a massive wave of competition for traditional news companies, scattering readers and advertisers across a radically altered news and information landscape and triggering mergers, bankruptcies and consolidation among the owners of print and broadcasting properties,” the daily said.

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • MySpace
  • Reddit
  • StumbleUpon
  • Diigo
  • FriendFeed
  • LinkedIn
  • Twitter
  • Netvibes
  • Technorati
  • HealthRanker
  • Fark
  • Faves
  • Segnalo

Tags: , ,

Comments are closed.

Market and Business Related

Continued Efforts are all what it Takes to Taste Online Success

Continued Efforts are all what it Takes to Taste Online Success

Entrepreneurship to be boosted by US startup Visa bill

Entrepreneurship to be boosted by US startup Visa bill

Online Presence Is the New Success Mantra

Online Presence Is the New Success Mantra

Kingfisher To Cancel Some Flights

Kingfisher To Cancel Some Flights

Car Exhaust Systems – Benefits and Tips

Car Exhaust Systems – Benefits and Tips

Can looks make a difference at workplace?

Can looks make a difference at workplace?

wordpress seo