Amazon's Jeff Bezos Explains Why He Bought The Washington Post

Amazon CEO Jeff Bezos explains his decision to purchase the Washington Post, saying, “I went through a few gates before deciding to buy The Post. Is it hopeless? I didn’t want to do it if it was,” he said.

"The Internet has radically disrupted traditional newspapers. The world is completely changed, and advertisers have tons of options on how to reach people in local areas.” But Bezos was ultimately convinced that The Post, which he called a national institution, can be brought into the digital age by leveraging the technical expertise and knowledge that he has gained over his decades spent building Amazon into a global technology company. “I didn’t know anything about the newspaper business, but I did know something about the Internet,” Bezos said. “That, combined with the financial runway that I can provide, is the reason why I bought The Post.” Ultimately, Bezos’ goal is to rework The Post into something that expands beyond the local daily newspaper, into one that reaches across borders.