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Amazon founder to buy The Washington Post

Monday, August 05, 2013 - 00:46

Aug. 5 - Amazon founder Jeff Bezos has agreed to buy The Washington Post for $250 million. Deborah Gembara reports.

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Amazon founder Jeff Bezos is buying The Washington Post. The $250 million surprise deal was announced on the newspaper's website. Also on the site, was a letter from Bezos promising "no radical change." Bezos could be seen with Post CEO Donald Graham at the Allen & Company Sun Valley conference in July. Under the terms of the deal, The Post will remain separate from Amazon.com. The agreement comes at a bleak time for newspapers which have struggled to keep advertisers and their readership. It also comes on the heels of the Boston Globe being sold for $70 million.

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Amazon founder to buy The Washington Post

Monday, August 05, 2013 - 00:46