{"id":89956,"date":"1999-12-31T00:16:00","date_gmt":"1999-12-30T13:16:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/amazon-ceo-buys-washington-post-250m\/"},"modified":"1999-12-31T00:16:00","modified_gmt":"1999-12-30T13:16:00","slug":"amazon-ceo-buys-washington-post-250m","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/amazon-ceo-buys-washington-post-250m\/","title":{"rendered":"Amazon CEO Buys Washington Post $250M"},"content":{"rendered":"<p>Amazon boss snaps up Washington Post for $250 million.<\/p>\n<div><\/div>\n<p>The news was announced overnight in the US at a meeting of Washington Post staffers.<\/p>\n<div><\/div>\n<div>Jeff Bezos, the multi-millionaire CEO and founder of Amazon, is buying the Post as an individual, as well as affiliated organisations.&nbsp;<\/div>\n<div><\/div>\n<div>Bezos&#8217; Internet brainchild Amazon, who has made millions from e-books, Kindles and online video streaming, has nothing to do with the sale.&nbsp;<\/div>\n<div><\/div>\n<div>Bezos himself will buy the organization and become its sole owner, reports the <a href=\"http:\/\/www.washingtonpost.com\/national\/washington-post-to-be-sold-to-jeff-bezos\/2013\/08\/05\/ca537c9e-fe0c-11e2-9711-3708310f6f4d_story.html\">Post.&nbsp;<\/a><\/div>\n<div><\/div>\n<div>The move ends ownership of the respected US newspaper by the Graham family, who sung Bezos&#8217; praise in a statement.&nbsp;<\/div>\n<div><\/div>\n<div>In a letter to Post staff, the 49 year-old Internet entrepreneur moved to reassure employees in a statement, although did admit there will be some changes under his ownership.&nbsp;<\/div>\n<div><\/div>\n<div>\n<table style=\"\" align=\"Center\" border=\"0\" cellpadding=\"4\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"365\" height=\"273\"><img fetchpriority=\"high\" decoding=\"async\" width=\"365\" height=\"273\" src=\"http:\/\/news.smarthouse.com.au\/resources\/articleimages\/dnnywknz_embeded_image_1.jpg\" border=\"0\"><\/td>\n<\/tr>\n<tr>\n<td width=\"365\">Image credit: Business Insider <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n<div>&#8220;The values of The Post do not need changing. We will continue to follow the truth wherever it leads, and we&#8217;ll work hard not to make mistakes,&#8221; said Bezos.&nbsp;<\/div>\n<div><\/div>\n<div>But, he added: &#8220;There will of course be change at The Post over the coming years. The Internet is transforming almost every element of the news business: shortening news cycles, eroding long-reliable revenue sources, and enabling new kinds of competition, some of which bear little or no news-gathering costs.<\/div>\n<div><\/div>\n<div><a href=\"http:\/\/www.washingtonpost.com\/national\/jeff-bezos-on-post-purchase\/2013\/08\/05\/e5b293de-fe0d-11e2-9711-3708310f6f4d_story.html?hpid=z2\">Read the full statement from Bezos here&nbsp;<\/a><\/div>\n<div><\/div>\n<div>&#8220;We will need to invent, which means we will need to experiment. &#8220;<\/div>\n<div><\/div>\n<div>The Amazon founder also confirmed he &#8220;won&#8217;t be leading The Washington Post day-to-day. I am happily living in &#8220;the other Washington&#8221; where I have a day job that I love.&#8221;<\/div>\n<div><\/div>\n<div>\n<div class=\"NFBreak\" style=page-break-before: always contenteditable=\"false\">&nbsp;<\/div>\n<p>Donald E. Graham, CEO of The Washington Post, said&nbsp;&#8220;Jeff Bezos&#8217; proven technology and business genius, his long-term approach and his personal decency make him a uniquely good new owner for the Post.<\/p><\/div>\n<div><\/div>\n<div>&#8220;I, along with Katharine Weymouth and our board of directors, decided to sell only after years of familiar newspaper-industry challenges made us wonder if there might be another owner who would be better for the Post.<\/div>\n<div><\/div>\n<p>&#8220;Our revenues had declined seven years in a row,&#8221; he admitted.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon boss snaps up Washington Post for $250 million.<\/p>\n","protected":false},"author":41,"featured_media":91848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,27],"tags":[],"class_list":["post-89956","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-archive","category-internet","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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