Washington Post to be sold to Jeff Bezos

Washington Post ^ | August 5, 2013

[Second Amendment First]

The Washington Post Co. has agreed to sell its flagship newspaper to Amazon.com founder and chief executive Jeffrey P. Bezos, ending the Graham family’s stewardship of one of America’s leading news organizations after four generations.

Bezos, whose entrepreneurship has made him one of the world’s richest men, will pay $250 million in cash for The Post and affiliated publications to the Washington Post Co., which owns the newspaper and other businesses.

Seattle-based Amazon will have no role in the purchase; Bezos himself will buy the news organization and become its sole owner when the sale is completed, probably within 60 days. The Post Co. will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter.

[1L]

>>how he valued the company<<

He didn’t, at least not correctly. A fifth of the sale amount could have started a state of the art online publication with quality staff (or, those from the WaPo if quality wasn’t important).

[ReformedBeckite]

A to Z news on line, for the liberals to read, delivered to you via your virtual paper box. AmaZon

[VerySadAmerican]

Bingo! Another “media” source owned and operated by liberals.

[Moonman62]

That’s okay. I give it about three years before he’s selling it for 10 cents on the dollar.

I agree it's a terrible investment, but $250 million is about one hundredth of his wealth. This is his ticket to political influence and a more powerful social circle. Or maybe he'll give it to his wife so she can have a hobby.

[loveliberty2]

"Amid the boisterous fallout over the president of Chick-fil-A’s comments against gay marriage comes another business leader taking a very different stand on the controversial issue. Amazon founder and CEO Jeff Bezos has donated $2.5 million to help pass a same-sex marriage referendum in Washington state. Same-sex marriage was legalized in the state in February, but opponents got enough signatures to put the law in front of voters."

Now, where is the outcry from so-called "progressives"? Remember how they go after those "right-wing conservatives" who, they fear, may purchase a newspaper or a network?

[a fool in paradise]

I miss watching Bezo the Clown on tee vee.

[Albion Wilde]

Of course not, the Onion is a serious newspaper compared to the Washington Compost.

LOL!! Too true...

[Valpal1]

Bezos bought the WaPo to influence legislation and the legislators that vote on it.

He wants the Marketplace Fairness Act passed in the House (already bought it’s passage in the Senate from Dirty Harry).

The MFA will seriously disadvantage small local businesses expanding onto the internet, leaving Bezos in control of the internet retail market and selling his services to those small entrepreneurs who sign up to be AZ affiliate sellers because the MFA makes it to difficult, confusing and expensive to do it on their own.

This is collusion and corruption between big business, big media and big government. Crony crapitalism is going to serve the rest of us a turd sandwich.

Obama sees the MFA as a cash cow that will save the profligate dem controlled states that are nearing bankruptcy (NY, CA, MA, etc).

[DoughtyOne]

Yes, probably a safe bet...

[DoughtyOne]

I like the wife idea. Good one...

[DoughtyOne]

Interesting thoughts. Thanks for the explanation.

[Alex Murphy]

Wealthy Lefties trying to save failing Liberal Rags appears to be the official meme of the day.

Too big to fail and too cheap to pass up, I guess. If your message can't find an audience, why not buy one?

[ChildOfThe60s]

Does this mean we can read WaPo for free on the Amazon.com site now?

Free isn't cheap enough for that rag.

[ChildOfThe60s]

He only bought it for political influence.

Hmm, good point.

[Zeneta]

Or, he doesn’t give a Rats A** about influence etc and will flip this to the Koch Brothers for a quick profit.

After all, the post would never sell directly to the Koch brothers.

[Thrownatbirth]

$60,000,000 for fish-wrapping or bird-cage-liner.

With hardly any ads, it's really declined to a disgusting leftist, hate-America pamphlet.

I just get it for the forearm-length plastic wrapper which makes a handy dog poop bag. On rainy days, you get two.

[Valpal1]

Bezos spends millions on lobbying, so he obviously cares about “influence.

[Old Sarge]

My gawd, they actually SPEAK like that, too!

[nascarnation]

As the WSJ mentioned, the value of Bezos’ Amazon stock typically fluctuates more in a DAY than what he paid for WaPo.

This is a “cheap” ticket to insider DC.

[tanknetter]

And I bet there are (or will be) all sorts of restrictions on AZ Affiliate sellers, right?

No firearms dealers allowed, for instance.