Amazon Founder Buys Washington Post for $250 Million

Jeff Bezos has purchased the newspaper that famously broke the Watergate story.
2:11 | 08/06/13

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Transcript for Amazon Founder Buys Washington Post for $250 Million
Now, to a blockbuster media story. Amazon's jeff bezos is buying one of the great newspapers. Now, the owner of "2 washington post." It was a stunning announcement that took a lot of people by surprise. And david kerley has the problem. He has changed the way you shop john line. And the way you read books. Worth $20 million, he's buying "the washington post," for $50 million. We knew we would keep the post alive. But our aspirations for "the post," have been higher than that. Reporter: What will bezos do with the newspaper that broke the stories on watergate? Such an engaging story that robert red far and dustin hoffman portrays them in "all the presidents men." It's a new owner, with new values. There's a potential to write a whole new chapter of "the post." Reporter: He is unapologetic, AS HE TOLD CYNTHIA MccFADDEN. Bezos had nothing but praise for the graham family, who has owned the post for sto long. When that family acts in a principled manner, in good times and in rough times, as stewards of important values, when that family has done such a good job, it's natural to worry about change. Bezos says there will be changes. Not in principles. The grahams admitted they couldn't deal with the technological changes that were under way. They sold to a top internet entrepreneur. And we'll see what he can do to make this paper profitable.

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