While I first broke the news that Amazon CEO, Jeff Bezos, had purchased The Washington Post, the sale was not finalized until this week. Yesterday the announcement came that the $250 million acquisition had been finalized, and that Bezos was now the sole owner of the near 80-year old company.
While $250 million sounds like a lot of money to spend on a business which many consider a dying medium, Bezos has plenty of cash to spare. He founded Amazon.com back in 1994 and has since became one of the wealthiest men in the world. Bezos says that he plans to turn the post around and once again lead it to profit. Bezos commented that he will remain at the helm of Amazon, and that he will visit the Post from time to time, but will remain devoted to Amazon for the foreseeable future.