A Washington Post newspaper box (L) stands beside the empty box of competitor Washington Times (R) outside the Washington Post on August 5, 2013 in Washington, DC, after it was announced that Amazon.com founder and CEO Jeff Bezos had agreed to purchase the Post for USD 250 million. Multi-billionaire Bezos, who created Amazon, which has soared in a few years to a dominant position in online retailing, said he was buying the Post in his personal capacity and hoped to shepherd it through the evolution away from traditional newsprint. AFP PHOTO/Brendan SMIALOWSKI (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)
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Billionaires love buying newspapers
From Benioff to Bezos, these billionaires are snapping up newspapers despite the fact the industry is struggling.
1:41 • Source: Business
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A Washington Post newspaper box (L) stands beside the empty box of competitor Washington Times (R) outside the Washington Post on August 5, 2013 in Washington, DC, after it was announced that Amazon.com founder and CEO Jeff Bezos had agreed to purchase the Post for USD 250 million. Multi-billionaire Bezos, who created Amazon, which has soared in a few years to a dominant position in online retailing, said he was buying the Post in his personal capacity and hoped to shepherd it through the evolution away from traditional newsprint. AFP PHOTO/Brendan SMIALOWSKI (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)
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