Amazon CEO Jeff Bezos Buys The Washington Post for $250 Million

Jeff BezosThe Washington Post has announced that it will sell to Amazon’s Jeff Bezos for a whopping $250 million. To be clear, Amazon is not acquiring the company — this is a purchase by Bezos as an individual. The Post’s CEO Donald E. Graham states that the 135-year-old company is selling due to “years of familiar newspaper-industry challenges.” Graham says these challenges made his company wonder “if there might be another owner who would be better.” As for why Bezos is a good choice, piles of cash aside, Graham cited his “technology and business genius,” his “long-term approach,” as well as his “personal decency.” In other words, Bezos understands technology, and The Post needs a fresh perspective. The company is no stranger to job cuts, just like the rest of the newspaper industry.

Read the full story at The Next Web.

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