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Amazon.com Latest News: Newspapers Are Billionaires' Latest Trophies

In a sign of the weakening status of print media, The Washington Post, once worth billions of dollars will be sold for just $250 million to Amazon CEO Jeff Bezos. This deal comes o... More In a sign of the weakening status of print media, The Washington Post, once worth billions of dollars will be sold for just $250 million to Amazon CEO Jeff Bezos. This deal comes on the heals of Red SOx owner John Henry purchase of The Boston Globe for $70 million and Newsweek's sale to colver $40 million in pensions. While some dismissed the $250 million deal as the flashy act of an Internet billionaire, others speculated about why Jeffrey Bezos, the founder of Amazon, would want a publishing company and what he would do next. Jeff Bezos, the Amazon.com founder who helped bring books into the digital age, is going after another pillar of "old media": The Washington Post. Bezos, 49, struck a deal to buy the venerable Washington broadsheet and other newspapers for $250 million. Less

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