Why Jeff Bezos bought The Washington Post for $250 million
Amazon.com CEO Jeff Bezos revealed over the weekend why he acquired The Washington Post for $250 million. The reason why may shock you.
Bezos said that he had no idea why he should buy the company on first thought. He was eventually talked into it by The Washington Post’s previous owner, Don Graham. Bezos and Graham have been friends for a while. The answer to that question was not aired, but it was included in the online version of the interview. The $250 million price-tag for the media giant is a fraction of Bezos’ wealth.
Below is the quote from the interview as provided by BusinessInsider:
“I didn’t seek to buy the Washington Post. I’ve known (former owner) Don Graham for many years. Earlier this year, Don, through an intermediary, approached me and said, ‘Would you be interested in buying the Washington Post?’ I was very surprised. My first question was: Why would I even be a logical buyer? I don’t know anything about the news business. I said, you know, I don’t understand why I would be good at this. Don thought that because the newspaper business is being so disrupted by the Internet that somebody who had a lot of Internet knowledge and technology knowledge could actually be very helpful. I eventually came to believe that, after having multiple conversations with Don.”