What is Jeff Bezos thinking buying WaPo?
Amazon CEO Jeff Bezos, who is the new owner of The Washington Post, at a press conference on September 6, 2012 in Santa Monica, California.
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.