The Washington Post Company Latest News: Newspapers Are Billionaires' Latest Trophies

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The Washington Post Company Latest News: Newspapers Are Billionaires' Latest Trophies

The Washington Post Company Latest News: Newspapers Are Billionaires' Latest Trophies
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The Washington Post Company Latest News: Newspapers Are Billionaires' Latest Trophies

by Wochit 1:00 mins

In a sign of the weakening status of print media, The Washington Post, once worth billions of dollars will be sold for just $250 million to Amazon CEO Jeff Bezos. This deal comes on the heals of Red SOx owner John Henry purchase of The Boston Globe for $70 million and Newsweek's sale to colver $40 million in pensions. While some dismissed the $250 million deal as the flashy act of an Internet billionaire, others speculated about why Jeffrey Bezos, the founder of Amazon, would want a publishing company and what he would do next. The Washington Post Company have announced that it has reached an agreement to be acquired by Amazon founder and CEO Jeff Bezos for $250 million.

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