Jeff Bezos buys Washington Post for $250m

Date: August 6, 2013 Published by

Jeff Bezos Amazon

Jeff Bezos, the founder of Amazon.com has bought Washington Post, which is one of the largest U.S newspapers for $250m (£160m). He is the sole owner of the newspaper. Jeff Bezos said that there were no intentions to change the normal workflow of the Washington post.

This deal means the end of four generations of ownership from the Graham family. Jeff Bezos pointed out that:

The values of The Post do not need changing,” Mr Bezos, who is worth some $23.2 billion (£15.1 billion), said last night. “The duty of the paper is to the readers, not the owners.”

Besides that, he also said the there will be no interferences between Amazon and the Washington Post.

Two other major U.S newspapers such as  Boston Globe and Newsweek has been sold during this week.

If you want to know more about why newspapers are being sold, check our our press industry market analysis: http://blog.adlegant.com/analysis-to-the-press-industry/

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