Jeff Bezos(amazon CEO) buys the Washington Post for $250 million in cash

[aGameOfThrones]

Some big (and surprising) news in the media industry today: The Washington Post has just confirmed that it and its affiliated publications have been acquired by Amazon CEO Jeff Bezos for $250 million in cash. The paper notes that Amazon itself "will have no role in the purchase," and that Bezos "will buy the news organization and become its sole owner when the sale is completed, probably within 60 days." It also goes on to explain that the existing Washington Post Company, which owns a number of other businesses (including Slate), "will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter."

In an interview with the paper, the Post Co.'s chief executive, Donald Graham, says that "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," adding, "I'm not saying this guarantees success but it gives us a much greater chance of success." In a letter to Post employees, Bezos, who was apparently one of several suitors considered by the company, says that he "won't be leading The Washington Post day-to-day," but that "there will of course be change at The Post over the coming years," and that "we will need to invent, which means we will need to experiment."

http://www.engadget.com/2013/08/05/jeff-bezos-buys-the-washington-post-for-250-million-in-cash/

[Carlybee]

Interesting..he is generally considered a libertarian.

[BuddyRey]

I don't know much about Jeff Bezos or his personal politics, but unless he's to the left of Chairman Mao, this can only spell good news for the Post's editorial bent.

[Lucille]

I think he's one of those Bill Maher "libertarians."

http://dailycaller.com/2013/08/05/libertarian-jeff-bezos-buys-the-washington-post/

I hope he fires all the neo-Trots on the payroll, starting with that horrid Jennifer Rubin.

[RCA]

How can he be a libertarian when he wants an internet sales tax?

[FrankRep]

How can he be a libertarian when he wants an internet sales tax?

The Real Reason Amazon Flip-Flopped On Internet Sales Taxes
http://www.forbes.com/sites/realspin/2013/06/03/the-real-reason-amazon-flip-flopped-on-internet-sales-taxes/

[JCDenton0451]

If I were a Zionist neocon, I wouldn't worry too much about WaPo direction. Jeff Bezos is one of them.

http://www.infowars.com/why-is-amazons-jeff-bezos-attending-2013-bilderberg-conference/


Interesting..he is generally considered a libertarian.

lol wut?

[enhanced_deficit]

There were rumors that NYT and Newsweek could also be going under. If they went bankrupt, will it be good for US public interest and bad for future war hysteria campaigns based on lies and profiteers?



Interesting..he is generally considered a libertarian.

Generally so but he needs to keep distance from bambam.

[fr33]

We should start a petition that he fire Jennifer Rubin.

[Carlybee]

If I were a Zionist neocon, I wouldn't worry too much about WaPo direction. Jeff Bezos is one of them.

http://www.infowars.com/why-is-amazons-jeff-bezos-attending-2013-bilderberg-conference/



lol wut?

Nevermind..was reading Wiki. He's a Bilderberger.

[robskicks]

double post

[robskicks]

How can he be a libertarian when he wants an internet sales tax?

Dude grow the f up. one single issue doesn't define a persons entire beliefs.

[twomp]

couldn't be worse then the tyrants currently in charge

[fr33]

Dude grow the f up. one single issue doesn't define a persons entire beliefs.
Taxation is kind of a big deal seeing as the American founders started a revolution over a couple of extra digits of tax rates. When I read a post like your's I instinctively want to ask who hired you.

[eduardo89]

Nevermind..was reading Wiki. He's a Bilderberger.

So is Peter Thiel and he supported and funded pro-Ron Paul and pro-liberty groups.

[Occam's Banana]

FTA (emphasis added): http://www.lewrockwell.com/lrc-blog/declining-washington-post-and-boston-globe-sold/


Declining "Washington Post" and "Boston Globe" Sold

Amazon founder Jeff Bezos will buy The Washington Post (http://www.washingtonpost.com/national/washington-post-to-be-sold-to-jeff-bezos/2013/08/05/ca537c9e-fe0c-11e2-9711-3708310f6f4d_story.html) for $250mm cash. Whether or not this is a good deal remains to be seen, since, according to The Guardian (http://www.theguardian.com/media/2012/jun/10/washington-post-paid-price-not-having-paywall) in 2012:


The Washington Post Company’s newspaper division has lost money in 13 of the last 15 quarters. Total loss over that period: $412m. The latest quarterly figures reveal a $23m loss and a 7% drop in revenue. Indeed, revenue has now slithered down in 20 of the last 22 quarterly returns. Last year’s annual figures show it at $314m, a third less than in 2006. Print advertising has shrivelled by 53% in that period. As for digital ad revenue, and supposed salvation, that’s down too – by 8% in the new returns. Amazingly, it too has slipped back over the past five years.


It’s doubtful things have improved for The WP since 2012.

Buying legacy newspapers that are losing money has become something of a hobby for rich guys in recent years. Sam Zell bought The Chicago Tribune and the L.A. Times in 2007 and failed miserably (http://www.forbes.com/sites/jeffbercovici/2012/02/22/delusional-sam-zell-blames-tribune-failure-on-greedy-journalists/) in his attempt to turn the papers around.

And Friday, we learned The News York Times Company sold (http://www.theguardian.com/commentisfree/2013/aug/05/boston-globe-sale-new-york-times) The Boston Globe to Red Sox owner John Henry for a measly $70 million. The NYT Co. bought the Globe back in 1993 for $1.1 billion. It doesn’t look like those values are adjusted for inflation, so we’re looking at a decline of price in 93 percent in nominal dollars. It would be worse if in real dollars. (93 percent? I had to double check my math on that.)
[:eek::eek::eek: - OB]

[tod evans]

Be interesting to see if a newspaper could make good in todays digital age...

Something tells me that a recipe of truth and honesty instead of deceit and propaganda just might sell....

Then again I'm biased.

[Sola_Fide]

Dude grow the f up. one single issue doesn't define a persons entire beliefs.

That issue does.

[compromise]

So is Peter Thiel and he supported and funded pro-Ron Paul and pro-liberty groups.

Thiel is actually a fiscal conservative though.

This guy is a liberal.

[compromise]

Dude grow the f up. one single issue doesn't define a persons entire beliefs.

He mostly donates to Democrats, with a few very liberal Republicans thrown in. That's enough proof he's left-leaning.

[JCDenton0451]

So is Peter Thiel and he supported and funded pro-Ron Paul and pro-liberty groups.

Don't you see the difference between Peter Thiel and Jeff Bezos?? Bezos is Jewish, which means he is 80% likely to be a Democrat (http://www.thedailybeast.com/articles/2011/07/02/jewish-voters-will-stay-democratic-despite-obama-s-rocky-ties-with-israel.html), and 59% likely to be warmonger (http://www.lobelog.com/ajc-poll-american-jews-increasingly-support-attack-on-iran-after-they-increasingly-disapproved-of-iraq-war/).

Everyone should read this article from Daily Beast:
http://www.thedailybeast.com/articles/2011/07/02/jewish-voters-will-stay-democratic-despite-obama-s-rocky-ties-with-israel.html

It contains many interesting facts about the politics of the Jewish community, and their relationship with the Democratic party.

[Cap]

He's as much of a libertarian as Glenn Beck is.

[brushfire]

Someone was recently cornered into charging sales tax... Someone has also been able to service the CIA recently - with "the cloud". I wonder if this someone is feeling the influence of politics and is now compelled to do something? Beat 'em, join 'em - I guess we shall see.

Someone tell Jeff, "dont be google"

[VoluntaryAmerican]

UPDATE 2: Matt Welch adds that Bezos has contributed to the non-profit that publishes the libertarian magazine Reason. If Bezos were to push a more libertarian direction for the paper's opinion side, it would be likely be the greatest departure from the Post's current, mostly center-left alignment. What would a mainstream newspaper with a libertarian opinion page look like? There isn't really an obvious model. There's been a great deal of backlash against the prospect of the Koch brothers purchasing the Tribune newspapers (including the Chicago Tribune and Los Angeles Times), but while the Kochs' economic libertarianism swings strongly to the right, Bezos's chosen causes and donations suggest he might be more in the "liberaltarian" mode. (h/t Daniel Strauss)


http://www.theatlantic.com/politics/archive/2013/08/the-politics-of-new-i-washington-post-i-owner-jeff-bezos/278385/

[JCDenton0451]

I hate Reason: they supported the Iraq war and immigration amnesty.

[compromise]

He's as much of a libertarian as Glenn Beck is.

Glenn Beck is light years more libertarian than this guy.

Beck supports Rand Paul and other fiscal conservatives. Jeff Bezos supports Maria Cantwell and other progressives.

[Lucille]

FTA (emphasis added): http://www.lewrockwell.com/lrc-blog/declining-washington-post-and-boston-globe-sold/

Buying legacy newspapers that are losing money has become something of a hobby for rich guys in recent years.

Like adopting third world kids.

"She bought a baby, for God's sake."
--Shaaarrron (http://www.dailymail.co.uk/tvshowbiz/article-412970/She-bought-baby--Sharon-Osbournes-verdict-Madonna-adoption.html)!

WaPo and Bezos: The Hope and the Reality
http://www.economicpolicyjournal.com/2013/08/wapo-and-bezos-hope-and-reality.html


@wikileaks Amazon to buy Washington Post fresh after $800M deal to host CIA servers http://www.washingtonpost.com/national/washington-post-to-be-sold-to-jeff-bezos/2013/08/05/ca537c9e-fe0c-11e2-9711-3708310f6f4d_story.html …

From Gizmodo:


The CIA has reportedly signed a massive cloud computing deal with Amazon, worth up to $600 million over the next 10 years.

FCW reports that its sources have told it Amazon will build a private cloud infrastructure for the CIA, to help it "keep up with emerging technologies like big data in a cost-effective manner not possible under the CIA's previous cloud efforts"

[Lucille]

Banzai!

http://www.zerohedge.com/contributed/2013-08-06/black-amazon

http://farm4.staticflickr.com/3772/9446723741_c955ee9d61_b.jpg

[eduardo89]

Don't you see the difference between Peter Thiel and Jeff Bezos?? Bezos is Jewish, which means he is 80% likely to be a Democrat (http://www.thedailybeast.com/articles/2011/07/02/jewish-voters-will-stay-democratic-despite-obama-s-rocky-ties-with-israel.html), and 59% likely to be warmonger (http://www.lobelog.com/ajc-poll-american-jews-increasingly-support-attack-on-iran-after-they-increasingly-disapproved-of-iraq-war/).

Everyone should read this article from Daily Beast:
http://www.thedailybeast.com/articles/2011/07/02/jewish-voters-will-stay-democratic-despite-obama-s-rocky-ties-with-israel.html

It contains many interesting facts about the politics of the Jewish community, and their relationship with the Democratic party.

Bezos isn't Jewish.

[RabbitMan]

Ditch the Jewish crap guys--it isn't a winning issue. Good for him for trying to bring back a newspaper with his own money.