Tuesday, 06 August 2013 02:53
If you had an extra $250 Million laying around, what would you spend it on? If you're Jeff Bezos (founder of Amazon.com), you'd buy the Washington Post. According to the word on the street, Jeff has done just that. He's bought the entire Washington Post and I'm guessing that he'll have some pretty large Amazon Ads in the paper from now on. That and if you order within the next 2 hours, you'll get it free by Fedex tomorrow. Good for Jeff, but I hope he takes it out of the dinosaur age and puts the Post on the Virtual Map.
Though the deal includes the Post and other traditional publishing properties, it doesn't include more digital-leaning assets in the company's portfolio, like Slate magazine and TheRoot.com. The Washington Post Co. that remains after selling its namesake publication -- which includes Kaplan, Post-Newsweek Stations and Cable ONE -- will be changing its name because of the sale. The new name hasn't been released.