Amazon’s Jeff Bezos is reported to be planning to purchase popular paper, The Washington Post. Bezos, a man who is frequently indulging in newer ventures, ending up multiplying his ever-growing wealth even further. Although it is not confirmed yet, reports have it that Bezos is now purchasing The Washington Post for $250 million.
The effective chairman and chief executive of The Washington Post company, Donald E. Graham, made the announcement about the purchase to his staff yesterday. According to him, “I, along with Katharine Weymouth and our board of directors, decided to sell only after years of familiar newspaper-industry challenges made us wonder if there might be another owner who would be better for the Post (after a transaction that would be in the best interest of our shareholders).”
It remains to be seen what Bezos intends to do with a prestigious media organization such as Washington Post. The newspaper has been struggling to survive for a long while now, due to the transition from print to the digital. Bezos’ money certainly makes a lot of difference, which is why the deal may actually result in finalized. However, we are really interested to know how Bezos intends to reinvigorate the company and bring back its old glory.