Bloomberg’s Ryan Chilcote reports on Jeff Bezos’ purchase of the Washington Post and possible motivations for the investment. He speaks on Bloomberg Television’s “On The Move.”
Bezos paid $250 million which is just about 10% of the market cap of the Washington Post company.
This furthers the recent move by individual billionaires – John Henry, who bought the Boston Globe, Warren Buffet who bought a whopping 80 Newspapers, and Carlos Slim who bought 13.4% of the New York Times – to buy up the print media, which used to be the remaining independent media considering that cable has been in the hands of a few individuals.
What is the fate of media consumers when a few people own all the media? This is why a site like Newsparticipation.com is becoming increasingly necessary to give representation to the masses.
