Jeff Bezos (Amazon) buys the Washington Post

[PhDeac]

I don't think District or I were talking about editorial.

Bezos' own newspaper could break news about Amazon and give the first spin. I heard this morning he gave his only interview about the acquisition to the Washington Post.

The Post could dig dirt on competitors or anyone in Washington opposing policies favorable to the company. It's a very useful thing to have.

 

[bigdoublezero]

Yeah, that just doesn't happen in newspapers. But it's a fun idea.

 

[TwentyONE]

FWIW, the purchase is being made by Bezos himself, in cash. Amazon and its shareholders will be a completely separate entity. At least for now.

Also the purchase cost Bezos less than 1% of his net worth....

 

[PhDeac]

Damn. That's baller.

 

[BDL]

Damn. That's baller.

unfathomable, really

 

[BobStackFan4Life]

In 1993 the Boston Globe sold for $1.1 billion. Three days ago it sold for $70 million. If the Globe was worth that much in 1993 the Post must've been worth over $3 billion. It's one of the top two papers in the country.

 

[bigdoublezero]

It's definitely behind the NYT and WSJ by any metric.

But yeah, newspapers don't make money anymore.

 

[TwentyONE]

Sadly, I think the Graham family felt they had to sell now if they wanted to leave anything substantial for their grandchildren, etc. Its been in the family since 1933.

 

[BobStackFan4Life]

It's definitely behind the NYT and WSJ by any metric.

But yeah, newspapers don't make money anymore.

Yeah, I forgot about the Wall Street Journal. The NY Times, WSJ, and USA Today have the advantage of being national, not just regional, and are way ahead when it comes to circulation. If you're just going by circulation, it actually ranks eighth, though they have a huge increase in circulation when it comes to the Sunday edition. The San Jose Mercury News ranks 5th, which I find surprising.
https://en.wikipedia.org/wiki/List_of_newspapers_in_the_United_States_by_circulation