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Amazon’s Billionaire Founder Purchases the Capital’s Newspaper

Started in 1877, the Washington Post is one of the most well known newspapers in the world, gaining its first spell of popularity in the field of journalism when it uncovered the Watergate Scandal, bringing about the downfall of President Richard Nixon. Now, a century and a quarter later, in a stroke of symbolism rich transaction, Jeff Bezos, the founder of the world famous Amazon.com, has agreed to acquire the legendary newspaper for 250 million dollars.

Bezos, the digital billionaire, has announced this in public and also adding that this media legacy will not be a part of his online retail store. What we see in the midst of this million dollar purchase of one of the biggest media legacies is the digital revolution, which has served to a great extent to transform the course of consumption of news, in the process, disturbing the whole of the media business and print journalism in particular.

Washington Post

However, in a letter to the staff of the Post, Bezos has also assured the staff as well as the owners that the values of the Post will not be changed much. He has also added that the journalistic concerns of the family owned newspaper will not alter to suit the needs of the private interests of the owners or influential people.

However, considering the previous records of Bezos’ active support and campaigning for the legal unions of people of the same sex, the dismay that many of the newspaper’s avid readers are going through may not hold to continue after all.

Source: Usatoday

About John W Arthur

John is the head of our IT Security team and he writes about Security, IT news on The Next Digit. He was the Employee of the Year 2013 for his selfless support and efficiently setting up the whole security infrastructure. He also occasionally writes on "IT Sec Pro" Print Media of Sweden. All posts by John

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