This isn’t the first time Bezos has invested in media properties. Earlier this year, Bezos invested $5 million in Business Insider, another online news publication that focuses more on tech and business news. Bezos, however, is known for not really letting anyone in on his grand plans for his investments. The Washington Post Co. will retain ownership of the other assets like Slate and its educational assets and continue on under a new name.
“There is no map, and charting a path ahead will not be easy,” Bezos told Washington Post employees in a letter. “We will need to invent, which means we will need to experiment. Our touchstone will be readers, understanding what they care about — government, local leaders, restaurant openings, scout troops, businesses, charities, governors, sports — and working backwards from there. I’m excited and optimistic about the opportunity for invention.”
Bezos — not Amazon — is the one buying The Washington Post, and he isn’t going to be leading the company in day-to-day operations, he said in his letter. In another letter to the paper’s employees, Washington Post publisher Katherine Weymouth said Bezos requested she remain on board, and she has asked the senior management team to do the same.