2-Year-Old Instagram: $1 Billion. 135-Year-Old ‘Washington Post’: $250 Million

The formerly family-owned Washington Post, one of the most well-respected traditional print media publications in the world, will now be owned by the entrepreneur known for bringing books into the digital age. Just days after the Boston Globe was sold to Red Sox owner John Henry for $70 million (more than a billion dollars less than what the New York Times Co. paid for it in 1993), The Washington Post was sold to Amazon founder Jeff Bezos for $250 million. Bezos has said he doesn’t plan on changing the values of the paper, and that key-staff will keep their jobs. The sale shocked The Post staff, who weren’t even aware a deal was in the works. New York Times tech blogger Nick Bilton gives some perspective about the buying and selling of media properties in the era of digital technology. Referring to Instagram, he tweeted “Amazing that today a 2-year-old start-up sells for $1 billion and a 135-year-old newspaper sells for $250 million” …

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