What is Jeff Bezos thinking buying WaPo?

Molly Wood Aug 6, 2013
HTML EMBED:
COPY

What is Jeff Bezos thinking buying WaPo?

Molly Wood Aug 6, 2013
HTML EMBED:
COPY

Two hundred fifty million bucks — that’s the price of the Washington, D.C. newspaper that published the Pentagon Papers, broke the Watergate scandal, and much more. The Washington Post has been picked up by Amazon co-founder and CEO Jeff Bezos. Newspapers have struggled to stay profitable in the internet era. But tech moguls have invested in the media world. You’ll remember Facebook co-founder Chris Hughes bought The New Republic magazine in 2012. So why do tech powerbrokers take interest in old media companies? For one, it’s a relatively inexpensive investment for someone like Bezos. Peter Ha, news editor at Gizmodo, says that, according to Forbes, Bezos is worth $25 billion.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.