Amazon CEO, Jeff Bezos bought The Washington Post for huge amount of $250 million. And No this is not an amazon aquisition, this Bezos did from his own personal assets. This move is a step for clear merger of two entities, Amazon, the Internet giant and The Post, a prominent name in Print media struggling from market capture from e-Sphere. He obviously wants to save the Post and this move must be looked as Jobs attempt to re-invent the company by increasing its online presence.
This is not the first time such step has been taken to save struggling newspapers, recently John W. Henry, owner of the Boston Red Sox, took the Boston Globe private with his $70 million purchase from The New York Times, Belo Corporation, who owned The Dallas Morning News, separated its print holding from broadcasting arm, and cases like News Corp.
Although Bezos has not his plans with The Post, he believes Amazon’s expertise will help change the way The Post operates. As he pointed out, development of online recommendations engines that could handle the newspaper game, with customer service. Bezos had earlier saiid that newspapers will be extinct in about 20 years from now.