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WaPo gets bought out by Amazon's Bezos
 Bezos told editorial employees the WaPo will pursue the truth whereever it leads them, as it always has. Brother. Same bullsh*t different boss.
Someone over at Ace's pointed out that cumulatively, Bezos has never made a dime of profit on Amazon. |
The Washington Post and some of its affiliated publications are being sold to Amazon.com founder and chief executive Jeff Bezos for $250 million.
Amazon itself will have no role in the purchase; Bezos will be the company's sole owner, taking over from 80 years of ownership by the Graham family.
The paper, like many others, has had difficulty staying profitable in the digital age, with operating revenue declining 44 percent over the last six years. Though Donald Graham, the Post Co.'s chief executive, said that the paper could have remained profitable for the foreseeable future, the ownership "wanted to do more than survive."
Bezos called the Washington Post "an important institution," and said he doesn't "have a worked-out plan."
| But he bought it anyway. Brilliant businessman, that Bezos guy... |
"This will be uncharted terrain and it will require experimentation," Bezos said in an interview. Nevertheless, Bezos said the "key thing" that people should take away from the paper's acquisition is that "the values of the Post do not need changing. The duty of the paper is to the readers, not the owners."
| As demonstrated by the paper losing 44% of the owners' money in the last go-round. How shall they demonstrate that duty to the planless Mr. Bezos, d'you suppose? And why on earth did he buy the thing, anyway? |
| To keep it in business long enough to influence the 2016 election... |
| But the Washington Post's readers already vote Democrat. Republicans read the Washington Times and the Wall Street Journal. |
| You always have the "low-information voters" who need to be swayed... |
Posted by: badanov 2013-08-06 |
