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Thread: Washington Post to be sold to Jeff Bezos

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    Washington Post to be sold to Jeff Bezos

    The Washington Post Co. has agreed to sell its flagship newspaper to Amazon.com founder and chief executive Jeffrey P. Bezos, ending the Graham family’s stewardship of one of America’s leading news organizations after four generations.

    Bezos, whose entrepreneurship has made him one of the world’s richest men,will pay $250 million in cash for The Post and affiliated publications to the Washington Post Co., which owns the newspaper and other businesses.

    Seattle-based Amazon will have no role in the purchase; Bezos himself will buy the news organization and become its sole owner when the sale is completed, probably within 60 days. The Post Co. will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter.

    The deal represents a sudden and stunning turn of events for The Post, Washington’s leading newspaper for decades and a powerful force in shaping the nation’s politics and policy. Few people were aware that a sale was in the works for the paper, whose reporters have broken such stories as the Pentagon Papers, the Watergate scandals and disclosures about the National Security Administration’s surveillance program in May.

    For much of the past decade, however, the paper has been unable to escape the financial turmoil that has engulfed newspapers and other “legacy” media organizations. The rise of the Internet and the epochal change from print to digital technology have created a massive wave of competition for traditional news companies, scattering readers and advertisers across a radically altered news and information landscape and triggering mergers, bankruptcies and consolidation among the owners of print and broadcasting properties.

    “Every member of my family started out with the same emotion—shock—in even thinking about” selling The Post, said Donald Graham, the Post Co.’s chief executive, in an interview Monday. “But when the idea of a transaction with Jeff Bezos came up, it altered my feelings.”

    Added Graham, “The Post could have survived under the company’s ownership and been profitable for the foreseeable future. But we wanted to do more than survive. I’m not saying this guarantees success but it gives us a much greater chance of success.”
    Washington Post to be sold to Jeff Bezos - The Washington Post

    This came out of left-field. I think re-branding the Post with a new name is a mistake, but the new owner is entitled to do what he pleases. I just hope that there isn't a degradation of journalism and mission.

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    Re: Washington Post to be sold to Jeff Bezos

    Wow, I'm shocked he's going to change the name. WaPo is easily the most respected and well read paper here in the area.

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    Re: Washington Post to be sold to Jeff Bezos

    Quote Originally Posted by Jango View Post
    Washington Post to be sold to Jeff Bezos - The Washington Post

    This came out of left-field. I think re-branding the Post with a new name is a mistake, but the new owner is entitled to do what he pleases. I just hope that there isn't a degradation of journalism and mission.
    Quote Originally Posted by Zyphlin View Post
    Wow, I'm shocked he's going to change the name. WaPo is easily the most respected and well read paper here in the area.
    Perhaps I'm reading it wrong but I don't believe Bezos is rebranding the paper but The Washington Post Company, which just sold the paper, is going to re-brand itself and move forward as a company unrelated to The Post.

    I knew the newspaper industry was in serious financial trouble but I'm shocked at just how little these companies are worth. The New York Times effectively gave The Boston Globe up for nothing the other day as what Henry will pay will basically cover nothing but the pension.
    Last edited by Dapper Andy; 08-05-13 at 06:11 PM.

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    Re: Washington Post to be sold to Jeff Bezos

    Bezos is a genius at creating value using new technology. I'm glad he's interested in the legacy media. If anybody can keep newpapers relevant, it's him.

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    Re: Washington Post to be sold to Jeff Bezos

    Quote Originally Posted by Jango View Post
    Washington Post to be sold to Jeff Bezos - The Washington Post

    This came out of left-field. I think re-branding the Post with a new name is a mistake, but the new owner is entitled to do what he pleases. I just hope that there isn't a degradation of journalism and mission.
    Hmm... how long before it becomes a electronic publication only, saving the airport edition? Get a Kindle with your subscription, as long as you agree to a 2 year deal. Slashing the huge cost of printing the damn thing. Oh, and I think it is only the holding company that will change it's name, not the paper (or electrons) itself.
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    Re: Washington Post to be sold to Jeff Bezos

    Interesting, but I hope that when he moves electronic, he thinks long and hard about the look of the soon-to-be-renamed newspaper on electronic devices of all sorts.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

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    Re: Washington Post to be sold to Jeff Bezos

    It'd be nice if they were not just a pupet for the DNC but that's not likely to change.

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    Re: Washington Post to be sold to Jeff Bezos

    It comes as a shock that he is changing the name, but I guess when you are trying to revamp a somewhat dead business as newspaper, you gotta go for it all.
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    Re: Washington Post to be sold to Jeff Bezos

    Quote Originally Posted by Jango View Post
    Washington Post to be sold to Jeff Bezos - The Washington Post

    This came out of left-field. I think re-branding the Post with a new name is a mistake, but the new owner is entitled to do what he pleases. I just hope that there isn't a degradation of journalism and mission.
    The newspaper's name won't be changing. The name of the Graham family's holding company will be changing.

    Finally, I share your hope that there won't be a degradation of the newspaper's journalism and mission.

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    Re: Washington Post to be sold to Jeff Bezos

    Itll be interesting to see what happens. It would ne nice if he got rid of the bias, the editorial page, and made wapo.com the place to go to get actual original content about real news on everything, and then figured out a way to sell it without being sensationalist, but I dont know if thats possible.

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