Technology content trusted in North America and globally since 1999
7,525 Reviews & Articles | 55,440 News Posts

Amazon's Jeff Bezos is now the official owner of The Washington Post

The Washington Post is officially under the control of its new owner, Jeff Bezos
By: Charles Gantt | Business, Financial & Legal News | Posted: Oct 2, 2013 9:52 pm
Comment () | Email to a Friend | Font Size: AA

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.

 

amazon_s_jeff_bezos_is_now_the_official_owner_of_the_washington_post_1

 

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.

NEWS SOURCES:Washingtonpost.com

Related Tags

loading