English | دری

Amazon to buy Washington Post for USD 250mn

in International Business

Amazon to buy Washington Post for USD 250mn

washington postThe founder and CEO of Amazon.com, Jeff Bezos, has announced to buy America’s largest and renowned media publications, The Washington Post, for USD 250mn.

Founded in 1877, The Post became a journalistic icon for its role in uncovering the Watergate scandal, which brown down President Richard Nixon.

The fabled newspaper will not be part of online retailer Amazon.com.

The newspaper business became a victim of the digital revolution that has transformed the way people consume news. Newspaper revenue and circulation are shrinking as readers increasingly turn to digital media.

“The paper’s duty will remain to its readers and not to the private interests of its owners,” he wrote. “We will continue to follow the truth wherever it leads, and we’ll work hard not to make mistakes. When we do, we will own up to them quickly and completely,” said Jeff Bezos.

The Post is generally regarded as one of the leading daily American newspapers, along with The New York Times, and The Wall Street JournalThe Post has distinguished itself through its political reporting on the workings of the White House, Congress, and other aspects of the U.S. government.

Tags assigned to this article:
Amazon.comJeff BezosWashington Post

Related Articles

Japan consumer prices rise spurred by higher fuel costs

Japan’s consumer prices rose in April, spurred by rising fuel costs, but growth remained below the central bank’s target, official

Greek governing parties ‘lose majority’ at polls

Greece’s two governing parties, which back tough austerity measures, have lost their parliamentary majority in Sunday’s election. With almost all

Spain’s jobless level falls for second month

The number of people looking for work in Spain fell for the second month in a row in May to

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.