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Jeff Bezos Buys Iconic Washington Post

Posted: August 5th, 2013 | Author: | Filed under: Business News, Digital Media, Indeep Media, Media, Print Media | Tags: , , | Comments Off on Jeff Bezos Buys Iconic Washington Post

Jeff Bezos

The iconic Washington Post newspaper has been sold for $280 million to Amazon’s chief executive and founder Jeff Bezos. The deal is chump change for Mr Bezos – less than 1 percent of his total wealth –  whose personal fortune is estimated at $31 billion.

The surprise deal follows the New York Times sale of the Boston Globe for $70 million. It is a further indication of the unprecedented challenges newspapers are facing as advertising revenue and readership declines :: Read the full article »»»»