Jeff Bezos on Post purchase — from washingtonpost.com
David McNew/Getty Images – The Washington Post Co. has agreed to sell its flagship newspaper
to Amazon.com founder and chief executive Jeff Bezos for $250 million August 5, 2013.
Excerpt of comments:
The Internet is transforming almost every element of the news business: shortening news cycles, eroding long-reliable revenue sources, and enabling new kinds of competition, some of which bear little or no news-gathering costs. There is no map, and charting a path ahead will not be easy. We will need to invent, which means we will need to experiment. Our touchstone will be readers, understanding what they care about – government, local leaders, restaurant openings, scout troops, businesses, charities, governors, sports – and working backwards from there. I’m excited and optimistic about the opportunity for invention.