In cash, actually. All it took was some gentle conversation and $250 million, and Jeff Bezos, CEO of Amazon, now owns the Washington Post. The most intriguing part of this acquisition is that Amazon has nothing to do with it; it’s just Bezos flexing some monetary muscle on his own. As Bezos went on to say, “Amazon will have no role in the purchase,” and that he “will buy the news organization and become its sole owner when the sale is completed, probably within 60 days.”
The statement goes on to explain that “The Post Co. will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter.” Jeff also made it clear that he will not run daily operations of the publication, either.
Most likely, like everything else Bezos touches, will find better success in a market where print publications methods are becoming increasingly stale in a modern, digital world.
Via: The Washington Post