Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Benin feels the pinch of Nigeria's economic woes

Read more

BUSINESS DAILY

Deutsche Bank shares recover after turbulent week

Read more

MEDIAWATCH

Inside Aleppo: 'Feels like prison'

Read more

THE WORLD THIS WEEK

The Legacy of Shimon Peres, The Battle of Aleppo (Part 1)

Read more

THE WORLD THIS WEEK

Trump-Clinton Debate, Colombia Peace Deal, Death of the BlackBerry (Part 2)

Read more

FRANCE IN FOCUS

Backstage at Paris Fashion Week

Read more

FASHION

Paris Fashion Week: Saint Laurent, Lanvin, present new designers

Read more

#THE 51%

Online and proud: Iranian women use social media in a campaign for equality

Read more

#TECH 24

Say hello to Pepper!

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)