The Washington Post Co. will sell its flagship newspaper and affiliated publications to Amazon.com founder and chief executive Jeffrey P. Bezos for $250 million in cash, the Washington Post reports. Seattle-based Amazon.com will not have a role in the purchase, the newspaper reported.
“The triumph of the Internet signaled the end of one era of newspaper publishing, and the purchase of the Washington Post by Jeffrey Bezos signals the beginning of a new one that promises to be rich in challenges, if not immediate profits,” said Rich Hanley, associate professor of journalism and director of the graduate journalism program at Quinnipiac University. “It’s as if the business went from one rooted in the black-and-white palette of Depression-era America to one bristling with 21st century digital exuberance in terms of ownership – and that is a good thing. Bezos will bring a contemporary sensibility to the gathering and distribution of information without the baggage of the past. That’s exactly what the news industry needs.”
To arrange an interview with Hanley, please contact John Morgan, associate vice president for public relations, at 203-582-5359 (office) or 203-206-4449 (cell).
Categories: Hot Topics