Jeff Bezos, Amazon Founder to buy Washington Post for $250mn

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Shivani
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Jeff Bezos, Amazon Founder to buy Washington Post for $250mn

#1 Postby Shivani » Tue Aug 06, 2013 10:22 am

After managing the Washington Post for four decades, the Grahm family has decided to sell their loving ownership..The Washington Post a well known and iconic newspaper, Amazon founder and chief executive officer Jeffrey P Bezos has agreed to buy the newspaper Company for USD 250 million, Bezos, whose net worth of $25.2 billion makes him the 19th wealthiest man in the world, is paying $250 million for the Post in a deal likely to be wrapped up in the next 60 days.

What the company has decided to do with the newspaper has not been disclosed yet, but Bezos has said ,The paper’s duty will remain to its readers and not to the private interests of its owners. We will continue to follow the truth wherever it leads, and we’ll work hard not to make mistakes. When we do, we will own up to them quickly and completely.

It's not that much easy to handle a venture which is already famous as Washington’s leading newspaper for decades and a powerful force in shaping the nation’s politics and policy..The company has to invent, which means they will need to experiment. Although in their vision also they have shared the same approach that their touchstone will be readers, understanding what they care about – government, local leaders, restaurant openings, scout troops, businesses, charities, governors, sports – and working backwards from there. I’m excited and optimistic about the opportunity for invention.

Journalism plays a critical role in a free society..so its a great buy for Amazon, till now Grahms handled it very courageously..now its Bezos to show up to the country what's new they have to do with the newspaper..which will not downgrade its popularity, even increase it by double..

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