Jeff Bezos must have found some change in his couch: The founder of online retail giant Amazon.com bought The Washington Post and several other newspapers Monday for the relatively small sum of $250 million. This comes a year after he said printed newspapers would be dead in 20 years.
Pretty funny if you’re a snarky media watcher. Probably not so funny if you’re a reporter for the Post, which has suffered newsroom layoffs and a steady decline in revenue since, oh, the dot-com boom.
It’ll be interesting to see what a savvy tech billionaire with deep pockets can do with an old media mainstay like the Post. Maybe the new business model will be paying for only what you want to read, which might mean lots of eyeballs for the sports section and underwear ads.