Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Trump's visit to Israel in key images

Read more

ENCORE!

Naomi Campbell hosts 'Fashion For Relief' in Cannes

Read more

THE DEBATE

Peacemaker? After Saudi Arabia Trump visits Israel

Read more

ENCORE!

Cannes 2017: Nicole Kidman stars in 'The Killing of a Sacred Deer'

Read more

TALKING EUROPE

Green MEP Eva Joly: 'Nuclear energy is a technology from the past'

Read more

FOCUS

'Healing viruses' offer hope in fight against 'superbugs'

Read more

TALKING EUROPE

EU health check: Should the EU increase cross-border care?

Read more

THE INTERVIEW

France's new president: Can Macron keep spirit of hope alive?

Read more

WOMEN IN SCIENCE

Lebanese prodigy Niveen Khabshab revolutionises cancer treatment

Read more

Business

Amazon founder to buy Washington Post for $250m

Text by FRANCE 24

Latest update : 2013-08-06

Amazon founder Jeff Bezos announced on Monday that he will buy the struggling Washington Post newspaper for $250 million. Bezos said in a statement that he understands the Post's "critical role" in Washington and that its values won't change.

Amazon founder Jeff Bezos will buy the struggling Washington Post newspaper from longtime owner the Graham family for $250 million, the Post announced Monday.

Bezos is making the purchase as an individual and Amazon is not involved, the Post said. The deal involves only the newspaper assets of the Washington Post Co., which also owns the Kaplan testing company and other units.

“Every member of my family started out with the same emotion — shock — in even thinking about” selling The Post, CEO Donald Graham, said in a statement on the newspaper's website.

“But when the idea of a transaction with Jeff Bezos came up, it altered my feelings.”

He added: “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. I’m not saying this guarantees success but it gives us a much greater chance of success.”

Bezos said in a statement that he understands the Post's "critical role" in Washington and that its values won't change.

(FRANCE 24 with wires)

Date created : 2013-08-05

  • OBITUARY

    Pioneering US journalist Helen Thomas dies at 92

    Read more

  • GREECE

    Greek public broadcaster ERT goes back on-air

    Read more

  • FRANCE

    First issue of Vanity Fair France hits shelves

    Read more

COMMENT(S)