Today, the global media, the Internet is a pretty surprising news --
Amazon founder Jeff Bezos (Jeff Bezos) agreed to pay $250 million for the Washington post newspaper assets, including its flagship journal, the Washington post, etc. The deal covers The Washington post and other Publishing business, such as "Express", "The Gazette Newspapers", "Fairfax County Times", Spain's weekly "El Tiempo Lati, and Greater Washington Publishing Publishing business, etc.
The deal does not include the Washington post company some private assets, as well as certain publications, such as Slate, TheRoot.com, and foreign policy.
The acquisition is bezos individual behavior, amazon was not involved in.
The seller and the buyer's statement
The Washington post company, chairman and CEO Donald Graham (Donald e. Graham), for sale is a better choice for the company. "I and Catherine wei moss (Katharine Weymouth) and members of the board of directors in the decision to sell, after many years after that time similar to the newspaper industry challenges make us want to know, whether in a club is a better choice for the Washington post company. Jeff bezos technical and commercial ability is proven, plus his long-term investment strategy and its personal reputation, making it to the new owner of the Washington post company person unique."
Bezos letter published in the Washington post web site, said: the Internet is changing the basic elements of the media industry, these changes include short news cycle, erosion media depends on the source of income for a long time, bring more competition, some opponents of news gathering at a lower cost even to zero. How to reform the innovation, and with no clear guidance, only by constantly experiment.
He promised not to make any radical changes. "The Washington post, the values do not need to change, the paper will still be responsible for its readers, rather than the pursuit of the private interests of the owner."
, according to people familiar with the matter, there are some people who participate in bidding for the Washington post, but bezos is one of the best bidder, the bid is the highest.
Bezos figure?
Bezos bought the Washington post newspaper assets is for the sake of profit, to share, or for the sake of fame? Also look not to come out now.
Mr. Buffett to buy stock in the Washington post, but a profitable business. Gradually to the Washington post in 1973, buffett holdings cost less than $11 million, decades did not sell, according to Berkshire hathaway's recent 13 - F report, buffett now held by the Washington post shares or 1.7 million shares. By the first quarter of this year, the value of the shares at $772 million.
But it is caught up in the golden age of the newspaper. Now, the Washington post circumstances can be quite different.
According to the Washington post company announced in May 2013 in the first quarter earnings data. The newspaper business losses of $34.5 million, the newspaper business income fell by 4% last year, but its online advertising revenue increased, is the fastest growing industry, but overall, the company also no profit, a loss of $2.26 million in the first quarter. At present, the circulation of the Washington post has less than 500000, fell by almost 10%.
But Mr Buffett in recent years is in some communities, local newspaper acquisitions. In a 2013 letter to shareholders, buffett so explain he now buy newspaper assets:
In the past 15 months, we paid $344 million for 28 daily. There are two possible reasons to make you some confusion. First, the shareholder and the annual report of the past, I have already told you, the circulation of the newspaper industry, advertising, and profits will decline, the forecast remains unchanged. Second, we call these assets are far short of the scale of the standard we require.
......
(but) Charlie and I believe that the newspaper to close community has comprehensive and reliable information, combined with intelligent Internet strategy, newspaper will remain competitive in the long time. We don't think that reduce the frequency of published news content or change will be a success. In fact, few few news reports will necessarily lead to readers. At present some town newspaper with the method of the published daily, may increase profits in the short term, long term is bound to reduce the practicability of the newspaper. Our goal is to keep our newspaper readers interested in content, and to think we have a value of readers, appropriate physical newspapers or online newspapers.
In April this year, Bezos individuals are involved in the media content industry, announced private by Mr Bezos Expeditions paid $5 million, investment in financial news website Business Insider.
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