Twitter Reactions to Bezos’ Purchase of Washington Post

In What's the Buzz by Hannah Johnson

By Hannah Johnson

Jeff Bezos, CEO and founder of Amazon

Jeff Bezos, CEO and founder of Amazon

Social media networks exploded with comments, retweets and shares when the news broke on Monday afternoon that Amazon CEO Jeff Bezos will buy The Washington Post for $250 million.

Bezos himself will be the owner of the newspaper after the deal is finalized, which will be in 60 days or less, reports The Post. The report also reveals that the name of the paper will change at some point in the future, though no decisions have been made.

In light of the 44% drop in revenue over the past six years, David Graham, CEO of The Post Co., appears upbeat about the newspaper’s future under Bezos:

“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. I’m not saying this guarantees success, but it gives us a much greater chance of success.”

In a letter to staff at The Post, Bezos wrote:

“There will of course be change at The Post over the coming years. That’s essential and would have happened with or without new ownership. The Internet is transforming almost every element of the news business: shortening news cycles, eroding long-reliable revenue sources, and enabling new kinds of competition, some of which bear little or no news-gathering costs. There is no map, and charting a path ahead will not be easy. We will need to invent, which means we will need to experiment. Our touchstone will be readers, understanding what they care about — government, local leaders, restaurant openings, scout troops, businesses, charities, governors, sports — and working backwards from there. I’m excited and optimistic about the opportunity for invention.”

Minutes after the news broke on The Washington Post, Twitter exploded. Reactions ranged from disbelief to predictions about the future of the newspaper, and of course, a little Amazon humor.

About the Author

Hannah Johnson

Twitter

Hannah Johnson is the publisher of international book industry magazine Publishing Perspectives, which provides daily information and news about book markets around the world. In addition to building partnerships with international cultural and trade organizations, she works with the Frankfurt Book Fair to organize and support a number of its overseas initiatives. Hannah has also worked as the managing editor for an online media company, The Hooch Life, focused on craft distillers and cocktail experts. Prior to that, she worked as a project manager for the Frankfurt Book Fair’s New York office, managing various business and marketing activities.