Washington Post news

[DrLeftover]

The Washington Post Co. agreed Monday to sell its flagship newspaper to Amazon.com founder and chief executive Jeffrey P. Bezos, ending the Graham family’s stewardship of one of America’s leading news organizations after four generations.

Bezos, whose entrepreneurship has made him one of the world’s richest men, will pay $250 million in cash for The Post and affiliated publications to The Washington Post Co., which owns the newspaper and other businesses.

The company has agreed to sell its flagship newspaper to the Amazon.com founder.

Seattle-based Amazon will have no role in the purchase; Bezos himself will buy the news organization and become its sole owner when the sale is completed, probably within 60 days. The Post Co. will get a new, still undecided name and continue as a publicly traded company without the newspaper.

http://www.washingtonpost.com/national/washington-post-to-be-sold-to-jeff-bezos/2013/08/05/ca537c9e-fe0c-11e2-9711-3708310f6f4d_story.html

 

[DrLeftover]

And the overall picture is pretty bleak;

According to Gallup, 55 percent of Americans get their news from TV, 21 percent from the Internet, and 6 percent from radio. Print? 9 percent.

http://www.cnbc.com/id/100952247

 

[Nebulous]

Seems like it will be a nice little side project for Amazon's founder. Who cares if its losing profit every year, he can afford to keep it afloat.