As of yesterday, Amazon CEO Jeff Bezos finally closed the deal which puts him in the position as the new owner of The Washington Post. Bezos originally announced his intentions to acquire the news outlet for $250 million in cash in August. The print news industry has largely struggled as the medium has moved online, and it remains unclear what Bezos has planned to breathe fresh life into the paper.
The Washington Post has confirmed, however, that the editorial management will remain largely unchanged and that the current publisher will keep her role at the newspaper. “The Post could have survived under the company’s ownership and been profitable for the foreseeable future. But we wanted to do more than survive,” Post Co. CEO Donald Graham said back in August. “I’m not saying this guarantees success but it gives us a much greater chance of success.”
Bezos didn’t buy The Washington Post for use with Amazon, though we wonder if there are any possibilities of some tie-in in the future. Amazon’s Kindle devices, for example, could be a great platform for increasing subscribers to the paper in a digital form.