Jeff Bezos bought the Washington Post newspaper
Jeff Bezos, a well-known businessman and founder of Amazon, has acquired the personal ownership of the legendary Washington Post newspaper and some other assets of the Washington Post Co. for $ 250 million
Although the Washington Post remains profitable, it is experiencing serious problems, like many print media now. Over the past six years, revenues from sales have fallen by 44%, and in the first half of 2013, circulation has decreased by another 7%.
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Amazon is not involved in the purchase, Jeff Bezos bought the newspaper for his own money. The transaction must be completed within 60 days.
Donald Graham, the current owner and CEO of the Washington Post informs the editorial team of the sale of the newspaper to his friend Jeff Bezos at a meeting on August 6, 2013, photo by Marvin Joseph / Washington Post
In addition to the Washington Post newspaper, washingtonpost.com, the Express newspaper, The Gazette, Southern Maryland, the Fairfax County Times, El Tiempo Latino and Greater Washington Publishing go to the 49-year-old businessman.
At the same time owned by Washington Post Co. there remains the headquarters building in Washington (on sale since February), Foreign Policy magazine (Foreign Policy), Slate.com and Root.com sites, cable television networks and other assets.
The Washington Post newspaper was founded in 1877 , and since 1933 belongs to the descendants of Eugene Meyer, who bought it at a bankruptcy auction during the Great Depression for $ 825 thousand. Interestingly, Eugene Meyer was a Wall Street financier, Jeff Bezos also worked in the hedge fund at the dawn of his career, so that by the age of 30 he would be able to capitalize on launching his own Amazon startup (although he still had to borrow $ 300,000 from his parents). Now the annual turnover of Amazon is $ 61 billion.
The significance of the Washington Post for American journalism is hard to overestimate. The journalists of this edition in 1972 conducted an investigation, which went down in history as the Watergate scandal and ended with the resignation of President Richard Nixon.
Newspaper workers won 47 Pulitzer Prizes - top journalism awards. However, one of the awards in 1981 had to be returned: the reporter Janet Cook (Janet Cooke) admitted that the story about an eight-year heroin addict was fabricated.
Jeff Bezos does not plan to dismiss any of the current 2,000 editorial staff; both the director and the editor-in-chief will remain in their posts. This was announced at a large editorial meeting, which took place on Monday. Bezos said he intends to fully delegate all current issues to the current leadership of the publication.
In addition to the newspaper, Bezos is known for other unexpected investments. In 2000, he founded the private company Blue Origin to develop a spacecraft and even purchased land in western Texas for a space launch center.
According to the Harvard Business Review, Jeff Bezos is the second best executive director in the world in the past decade, after Steve Jobs. With a personal fortune of $ 23.2 billion, he is ranked 11th on the list of richest Americans.
Although the Washington Post remains profitable, it is experiencing serious problems, like many print media now. Over the past six years, revenues from sales have fallen by 44%, and in the first half of 2013, circulation has decreased by another 7%.
')
Amazon is not involved in the purchase, Jeff Bezos bought the newspaper for his own money. The transaction must be completed within 60 days.
Donald Graham, the current owner and CEO of the Washington Post informs the editorial team of the sale of the newspaper to his friend Jeff Bezos at a meeting on August 6, 2013, photo by Marvin Joseph / Washington Post
In addition to the Washington Post newspaper, washingtonpost.com, the Express newspaper, The Gazette, Southern Maryland, the Fairfax County Times, El Tiempo Latino and Greater Washington Publishing go to the 49-year-old businessman.
At the same time owned by Washington Post Co. there remains the headquarters building in Washington (on sale since February), Foreign Policy magazine (Foreign Policy), Slate.com and Root.com sites, cable television networks and other assets.
The Washington Post newspaper was founded in 1877 , and since 1933 belongs to the descendants of Eugene Meyer, who bought it at a bankruptcy auction during the Great Depression for $ 825 thousand. Interestingly, Eugene Meyer was a Wall Street financier, Jeff Bezos also worked in the hedge fund at the dawn of his career, so that by the age of 30 he would be able to capitalize on launching his own Amazon startup (although he still had to borrow $ 300,000 from his parents). Now the annual turnover of Amazon is $ 61 billion.
The significance of the Washington Post for American journalism is hard to overestimate. The journalists of this edition in 1972 conducted an investigation, which went down in history as the Watergate scandal and ended with the resignation of President Richard Nixon.
Newspaper workers won 47 Pulitzer Prizes - top journalism awards. However, one of the awards in 1981 had to be returned: the reporter Janet Cook (Janet Cooke) admitted that the story about an eight-year heroin addict was fabricated.
Jeff Bezos does not plan to dismiss any of the current 2,000 editorial staff; both the director and the editor-in-chief will remain in their posts. This was announced at a large editorial meeting, which took place on Monday. Bezos said he intends to fully delegate all current issues to the current leadership of the publication.
In addition to the newspaper, Bezos is known for other unexpected investments. In 2000, he founded the private company Blue Origin to develop a spacecraft and even purchased land in western Texas for a space launch center.
According to the Harvard Business Review, Jeff Bezos is the second best executive director in the world in the past decade, after Steve Jobs. With a personal fortune of $ 23.2 billion, he is ranked 11th on the list of richest Americans.
Source: https://habr.com/ru/post/288936/
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