Washington Post finalizes $250 million sale to (Billionaire Jeff) Bezo

[Lasher]

Source: USA Today

The Washington Post now fully belongs to billionaire Jeff Bezos.

The Washington Post Co., which had owned the paper, said Tuesday that it has finalized selling that part of the company to the founder and chairman of Amazon.com, a deal that was announced in early August and shocked the media industry.

In paying $250 million in cash for the paper, Bezos gains control of the fabled but struggling publication that had been controlled by four generations of the Graham family.

Bezos, who's buying the paper individually, also picks up other properties in the Washington region, including the Express newspaper, The Gazette newspapers, Southern Maryland Newspapers, Fairfax County Times and El Tiempo Latino.

Read more: http://www.usatoday.com/story/money/business/2013/10/01/washington-post-finalizes-sale/2905073/

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According to Nick Hanauer (an early investor in Amazon) and "others who know (him)", Bezos is described as a libertarian. In July 2012, Bezos and his wife personally donated $2.5 million to pass a same-sex marriage referendum in Washington. According to Newsmeat.com, a web site that documents political donations made by "the powerful, rich, and famous" since 1977 (and donations higher than $200), Bezos has donated $16,000 to United States Democrats, $2,000 to United States Republicans, and $55,000 to special interests as of September 6, 2012.

http://en.wikipedia.org/wiki/Jeff_Bezos#Early_life_and_personal

[benh57]

1. Bezos.

thanks

[Iliyah]

2. More right wing bullshit

as news, on my.

[Kolesar]

4. WaPo routinely wrote pro-Bush editorials when he was "in office"

"There is room for improvement", IMHO. Wapo will probably devolve into online editorials and not much else as the print business fades away.

[Ikonoklast]

3. Bezos now has a small fiefdom in a dying segment of the media.

The newspaper business is nowhere near as influential as they used to be, the younger you are, the more likely you've never read a newspaper to be informed...about anything.

[onehandle]

5. Libertarian billionaire buys media to help protect and promote his job killing company. nt