
Online has won over Print. The recent news that Amazon founder Jeff Bezos is buying Washing Post shocked the entire US media industry. The newspaper announced on its website last Monday afternoon that Bezos is going to pay $250 million in cash.
The company Amazon will have nothing to do with the deal. Jeff Bezos himself would own the newspaper, as well as, its associated companies. (Of course, in the future, it would be inevitable that Amazon would be included in the loop.)
The purchase will be completed in about 60 days. Like many other similar acquisitions, we could say that print is having a hard time competing with the Internet.
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