Amazon CEO Jeff Bezos Just Bought The Washington Post For $250 Million

It’s also worth noting that Bezos was present at the Sun Valley conference this year along with representatives of Allen & Co. and The Washington Post Co. executives, along with Washington Post Co. board member and IAC chairman Barry Diller (IAC, on Saturday, sold Newsweek, which had been owned by The Post). The Sun Valley conference is where many of these larger deals are hatched and executed.

And of course, there is his relationship with Washington Post Co. CEO Don Graham. “I have had the great pleasure of getting to know Don very well over the last ten plus years,” Bezos said in the letter. “I do not know a finer man.”

“Our revenues had declined seven years in a row,” Graham said in a letter to Washington Post employees. “We had innovated and to my critical eye our innovations had been quite successful in audience and in quality, but they hadn’t made up for the revenue decline. Our answer had to be cost cuts and we knew there was a limit to that. We were certain the paper would survive under our ownership, but we wanted it to do more than that. We wanted it to succeed.”

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