Amazon founder Jeff Bezos buys The Washington Post for $250 million

One of the most well-known newspapers in the world has just been acquired by one of the biggest names in technology. The Washington Post announced today that Amazon.com founder and CEO Jeff Bezos has purchased the newspaper along with its other related publications for $250 million. The purchase was made by Bezos himself and Amazon is not involved.

In the Washington Post's own story of the deal, it points out that this is a huge event in the newspaper publishing world, as the Post has been owned and run by members of the Graham family for the past 80 years. The newspaper's chief executive Donald Graham secretly put the company up for sale earlier this year and entertained offers from several groups before settling on the one from Bezos.

So far, Bezos has given no indications on how he will change the Washington Post, saying only, "This will be uncharted terrain and it will require experimentation." There are no announced plans for layoffs at the newspaper, which has 2,000 employees. The deal does not include the purchase of The Washington Post building, nor does it include some of the company's websites, such as Slate.com and TheRoot.com.

Bezos will remain in his home town of Seattle while the current editorial team of The Washington Post will remain in charge of the day-to-day activities. Bezos's day job of running Amazon.com will still be his main focus, which is good considering the company had a surprise loss of $7 million for its last fiscal quarter.

Source: Washington Post | Image via Amazon

Report a problem with article
Previous Story

Survey: College students still want laptops over tablets

Next Story

Strange suggestion fixes Windows RT 8.1 battery drain issues

17 Comments

Commenting is disabled on this article.

Well his experimentation with Kindle paid off pretty well. If he can rethink the way news are consumed by the public he can make something awesome. Super thin ePaper combined with always-on news feed = future!

I think this is a worthwhile investment. Newspapers may be on the decline in terms of revenue, but I have a feeling Jeff Bezos knows how to transition one of the biggest newspapers into the world to more modern media. For him, $250 million isn't all that much, and it's also a fair price for a paper as prestigious as The Post.

torrentthief said,
i suspect we won't be seeing any articles about amazon dodging taxes then.

yep ... and the newspapers can be picked up pretty cheap now they have little circulation ... $250m is nothing to reach the public and put one's point of view across as fact

I'm riiich Beotch! Dave Chappelle would have been proud. It'll be interesting to see how things might change at that dying institution.

Josh_LosAltosHills said,
its gotta be nice to spend $250M on something as a experiment and something to mess around with.

was thinking the same thing!! Wow, a $250m gamble.

He should put it into Amazon, they're not exactly rolling in it these days.

Are you talking about the net loss for Amazon that was reported? It was my understanding that it was due to Amazon reinvesting into the company for more content and warehouses.

No, a net loss != operating loss. If you make an operating profit (which they did) this indicates a healthy business. They had a net loss because they have the foresight and balls to make long term bets on the betterment of their company. As a business owner myself, I applaud what they are doing, especially since they are publicly traded. That makes it even harder to do anything except short sighted defensive plays.

ZipZapRap said,

He should put it into Amazon, they're not exactly rolling in it these days.

They are hiring 15,000 workers for their warehouses I read this week (can't be doing too bad)

Talk about something coming out of Left Field - with all the talk about media M&A, nobody (and I mean NOBODY) saw THIS coming, even after the spinout of Newsweek.