LOS ANGELES — 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 announced Monday to buy the venerable Washington broadsheet and other newspapers for $250 million. It was a startling demonstration of how the Internet has created winners and losers and transformed the media landscape. Bezos pioneered online shopping, first by selling books out of his Seattle garage in 1995, then with just about everything else. In doing so, he has amassed a $25 billion personal fortune, based on the most recent estimates by Forbes magazine. Meanwhile The Washington Post, like most newspapers, has been losing readers and advertisers to the Internet while watching its value plummet. The newspaper became internationally known after its investigation of the Watergate scandal that led to the resignation of President Richard Nixon, the basis for the Robert Redford film “All the President’s Men.” Bezos is buying the newspaper as an individual. Amazon.com Inc. is not involved. Bezos said to Post employees in a letter distributed to the media that he’d be keeping his “day job” as Amazon CEO and a life in “the other… Read full this story
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