Amazon CEO Jeff Bezos just spent $US250 million in cash to acquire The Washington Post. This is not an Amazon purchase, it was bought by Bezos personally.
Bezos was not the only interested party, but he was deemed the “highest and best,” according to AllThingsD. Allen & Co, a firm hired to shop The Washington Post, tells the paper its representatives “spoke with a half-dozen potential suitors.” Bezos was selected by The Post Co.’s board.
The Graham family has owned The Washington Post for 80 years. Bezos doesn’t seem to have a plan for it. He says helping The Washington Post win in a digital journalism world will “require experimentation.”
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.