Seattle, Washington – Amazon founder and CEO Jeff Bezos has purchased The Washington Post from the Graham family for a bargain price of $250 million. The shocking news came just days after Boston Red Sox owner John Henry announced the purchase of The Boston Globe from The New York Times Company for a give-away $70 million. The Post and The Globe have joined the string of newspaper companies being sold , a sign of times-a-changing. More and more print newspapers are going under, thanks to the stiff competition from the Internet and declining revenues from print ads.
But there is good news for loyal consumers of newsprint, specifically The Post. Amazon has just announced that as part of the restructuring of the business side of the newspaper, subscribers will receive free shipping if they sign up for subscription on the Amazon.com site, regardless of where — in the world – they want their paper to be delivered. Additionally, Bezos said that consumers who buy $10 worth of any goods sold by Amazon will get a free one year’s subscription to The Post.
The Adobo Chronicles also learned that as part of the its new business strategy, Amazon will use old copies of The Post to wrap Amazon products for shipping. “It’s a win-win for everybody. Consumers will even be able to read old news,” Bezos said.