INQUIRER.net: Latest Internet casualty: Washington Post sold for $250M to Amazon founder

INQUIRER.net Philippine News for Filipinos

Latest Internet casualty: Washington Post sold for $250M to Amazon founder Aug 6th 2013, 00:12 WASHINGTON—The Washington Post, the legendary newspaper that broke the Watergate scandal, is being sold to Amazon founder Jeff Bezos as it seeks to survive the onslaught of the Internet.   Donald Graham, grandson of Eugene Meyer, who bought the Post during the Great Depression in 1933, stunned the US media industry Monday announcing the sale of the newspaper to Bezos for $250 million.   Graham, chief executive of the Washington Post Company, had given no hint that the newspaper of record for the nation's capital was up for sale, despite sinking earnings and plunging subscriptions.   But he made clear that it was the formidable challenge of the Inter... Keep on reading: Latest Internet casualty: Washington Post sold for $250M to Amazon founder Media files: Washington-Post-Bezos.jpg (image/jpeg)

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