It’s true! Jeff ‘Amazon’ Bezos buys Washington Post for $250 million

06 Aug,2013

 

By A Correspondent

 

It’s not always that you wake up, look up the news on your mobile device or computer, and wonder whether you are actually awake or dreaming.

 

The milkman’s on the door, you can hear the school bus at the distance screeching to a halt. Yup, it’s all for real.

 

1 Minute View: Yeh toh hona hi tha!

And it isn’t April 1.

You aren’t reading Onion or our own Faking News.

It’s the NY Times and the Washington Post. It’s on Poynter, it’s everywhere.

 

Jeffrey P Bezos, the man who made the world forget that Amazon is also the name of the second-largest river on this planet by creating a powerful, multi-billon dollar e-commerce empire called Amazon.com had bought the Washington Post and a slew of other publications.

 

Yes, Amazon founder Jeff Bezos was the new owner of one of the world’s most powerful newspapers. The acquisition, made at a modest amount of $ 250million, puts an end to some 80 years of ownership by the Graham family.

 

It’s pointless us writing a long story here.

 

We’ll bring you the Top 10 links so far:

1. The Washington Post main story announcing the deal: http://www.washingtonpost.com/national/washington-post-to-b e-sold-to-jeff-bezos/2013/08/05/ca537c9e-fe0c-11e2-9711-3708310f6f4d_story.html

2. Another take, from The New York Times: http://www.nytimes.com/2013/08/06/business/media/amazoncom-founder-to-buy-the-washington-post.html?hp&_r=0

3. Yet another take, from Forbes: http://www.forbes.com/sites/peterhimler/2013/08/05/why-jeff-bezos-is-buying-the-washington-post/

4. And one more, from Heidi Moore in The Guardian: http://www.theguardian.com/technology/2013/aug/05/jeff-bezos-expeditions-amazon-washington-post

5. The Washington Post Timeline – from 1877 to now: http://apps.washingtonpost.com/g/page/national/washington-post-company-timeline/374/

6. The much-acclaimed statement from Jeff Bezoz where he talks of business as usual and need to invent in the future, for its future: http://www.washingtonpost.com/national/jeff-bezos-on-post-purchase/2013/08/05/e5b293de-fe0d-11e2-9711-3708310f6f4d_story.html

7. Letter from promoter Donald Graham to employees: http://www.washingtonpost.com/national/letter-from-donald-graham-on-sale-of-the-post/2013/08/05/3e6642e0-fe0f-11e2-9711-3708310f6f4d_story.html

8. Publisher Katharine Weymouth to employees: http://www.washingtonpost.com/national/katharine-weymouth-remarks-to-post-employees/2013/08/05/9edcf1d8-fe0e-11e2-9711-3708310f6f4d_story.html

9. Publisher Katharine Weymouth to readers: http://www.washingtonpost.com/national/katharine-weymouth-letter-to-post-readers/2013/08/05/ff6bd6e0-fe0e-11e2-9711-3708310f6f4d_story.html

10. Some tweets (not comprehensive): https://twitter.com/search?q=bezos%20post&src=typd

 

Are there lessons for us here in India?

Surely, there are.

Remember, we have already an Aditya Birla group investing in the India Today group, and we’ve had other big businesses putting in money into other media entities – directly or via Trust-ed alternatives.

 

Some years back, Rediff.com expanded in the US by buying India Abroad newsweekly. But can we have Hungama.com’s Neeraj Roy buying a leading film magazine? Or Naukri’s Sanjeev Bikhchandani buying a business daily?

Nothing’s impossible, we say.

 

Post a Comment 

One response to “It’s true! Jeff ‘Amazon’ Bezos buys Washington Post for $250 million”

  1. Himanshu Agarwal says:

    Holy cow…!!

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