Monday, August 05, 2013

Jeff Bezos buys the WashPost

Well, nobody saw this coming.  The Post wants you to know that the deal has nothing to do with Amazon:
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.
The deal represents a sudden and stunning turn of events for The Post, Washington’s leading newspaper for decades and a powerful force in shaping the nation’s politics and policy.
Bezos is paying a quarter-billion in cash which should empty about half the wallet in his walking-around pants.

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