Bezos buys the Washington Post

 
 

Well, no one saw this one coming. Amazon.com founder and CEO Jeff Bezos is buying The Washington Post, according to the newspaper, which has been owned by the Graham family for four generations.

The Post reports that Bezos will pay $250 million in cash for the Post and affiliated publications. Amazon is not involved in the deal. The Post quotes Bezos as saying he does not have a concrete plan for the newspaper going forward and that it is “uncharted terrain.”

Bezos continued: "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.”

Bezos says he plans to remain in Seattle and will delegate operation of the newspaper to current management.  

Donald Graham, CEO of the Washington Post Co., said the newspaper’s financial situation dictated the sale, which was handled in utmost secrecy by the investment firm Allen & Co.

Check out the Post's story here.

Related Content

It’s easy to get discouraged by the torrent of bad news of late, but now is not the time to jump ship

The increased reliance on telecommuting spawned by the COVID-19 opens the door to new information-security vulnerabilities

‘We need the federal government to move quickly to invest in people, nonprofits, small businesses and employers’ to stabilize the economies of our urban centers

It’s time to have a national conversation about the path forward for our way of life

It’s time to have a national conversation about the path forward for our way of life