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

News of Bezos’ purchase also follows Boston Red Sox owner John Henry’s purchase of The Boston Globe over the weekend from The New York Times for $70 million. Another famous billionaire, Warren Buffet, has been buying up newspaper properties as well, but he has spent his time buying smaller publications.

While the purchase may seem strange, it does fit with Bezos’ personal ventures in a weird way. He has invested in space travel, as well as a clock that will last for thousands of years. “I don’t want to imply that I have a worked-out plan,” he told The Washington Post. “This will be uncharted terrain and it will require experimentation.”

Here’s what Graham said in a story in The Post about the sale:

“Every member of my family started out with the same emotion — shock — in even thinking about” selling The Post. “But when the idea of a transaction with Jeff Bezos came up, it altered my feelings.”

The Post could have survived under the company’s ownership and been profitable for the foreseeable future. But we wanted to do more than survive. I’m not saying this guarantees success but it gives us a much greater chance of success.”

Article Appeared @http://www.buzzfeed.com/mattlynley/jeff-bezos-just-bought-the-washington-post-for-250-million

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