Washington Post Sold to Amazon Founder
The Washington Post has been sold to Amazon CEO and founder Jeff Bezos for a total of $250 Million. The amount is thought to be just 1% of the Amazon Chief’s total net worth. It is not yet clear the reasons for the sale and why the Amazon founder was interested in it considering Amazon doesn’t host much news, however as this acquisition appears to be by the founder and not Amazon itself, this could be a way for Jeff to increase his exposure in different industries. The amount spent on the acquisition is considered a high amount, however if you look at the numbers of other related buys, it isn’t that much in comparison. The Microsoft purchase of Skype is thought to have cost a total of around $8 Billion. The recent acquisition of Tumblr by Yahoo also went over a billion, which is 4 times more than what The Washington Post went for.
Source: [The Daily Beast]