The Washington post reports Amazon.com founder and chief executive Jeff Bezos has bought the newspaper for $250 million in cash.
Read his open letter to staff at the newspaper ….’There will, of course, be change at The Post over the coming years. That’s essential and would have happened with or without new ownership. The Internet is transforming almost every element of the news business: shortening news cycles, eroding long-reliable revenue sources, and enabling new kinds of competition, some of which bear little or no news-gathering costs. There is no map, and charting a path ahead will not be easy.’ …..
