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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWashington Post Sold To Jeff Bezos...
Another turning point for the very troubled print news industry:
http://www.washingtonpost.com/national/washington-post-to-be-sold-to-jeff-bezos/2013/08/05/ca537c9e-fe0c-11e2-9711-3708310f6f4d_story.html
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.
The deal represents a sudden and stunning turn of events for The Post, Washingtons leading newspaper for decades and a powerful force in shaping the nations politics and policy. Few people were aware that a sale was in the works for the paper, whose reporters have broken such stories as the Pentagon Papers, the Watergate scandals and disclosures about the National Security Administrations surveillance program in May.
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.
The deal represents a sudden and stunning turn of events for The Post, Washingtons leading newspaper for decades and a powerful force in shaping the nations politics and policy. Few people were aware that a sale was in the works for the paper, whose reporters have broken such stories as the Pentagon Papers, the Watergate scandals and disclosures about the National Security Administrations surveillance program in May.
From my experience, those who venture from their area of expertise learn expensive lessons.
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Washington Post Sold To Jeff Bezos... (Original Post)
KharmaTrain
Aug 2013
OP
Why change the name? That's a real deal killer. He doesn't know what he's doing and
live love laugh
Aug 2013
#4
He's a very smart guy, and it will be fascinating to see what his approach is.
Nye Bevan
Aug 2013
#6
Lint Head
(15,064 posts)1. I smell death.
DJ13
(23,671 posts)2. Unsold newspapers make great packing materials
Jenoch
(7,720 posts)3. I will guess that 20 years ago the Washington Post
was worth more than three times what Bezos is paying. This truly is a sad state of affairs in the news and newspaper business.
live love laugh
(13,100 posts)4. Why change the name? That's a real deal killer. He doesn't know what he's doing and
nobody will know what he's selling.
onenote
(42,693 posts)5. Bezos is not changing the papers name
The company that no longer owns the paper is changing its name.
Nye Bevan
(25,406 posts)6. He's a very smart guy, and it will be fascinating to see what his approach is.
Nobody seems to have figured out how to be successful with old media (with the exception of The Economist). Let's see how Bezos does.