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.
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