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CNN Your Money August 10, 2013 18:04:00

something bezos has in common. remaking the selling the news is next. bezos can spend an enormous amount of money on the washington post without really taking too much of a dent in his own private fortune so he has the leeway to make major experiments. everybody knows that newspapers have to change. donald graham insists the commitment to journalism won t change. we will become a place that does its traditional job and maintains its traditional values but tries things and i hope a lot of them will succeed. a sentiment echoed by bezos to employees saying the values of the post do not need changing. the duty will be to readers and not to private interest of owners. we ll continue to follow the truth wherever it leads. most newspapers today are ....

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CNN Your Money August 10, 2013 18:05:00

Terribly undernourished in terms of funding. there s an unwillingness to invest in investigative reporters or foreign bureaus have been closed down and they need to be reopened and a private owner with the kind of wealth that jeff bezos has can make a difference. david gergen came to know graham and ben bradley says bezos can afford to make mistakes but the stakes are still high. had it not been for ben and for kay, there would have been no woodward and bernstein and maybe the watergate story would have turned out very differently. who knows for sure. after the downfall of a president, it s just not washington without the post. the washington post newspaper will no longer be a publicly traded company. it is now a privately held firm controlled by bezos. post management will remain in place but for how long depends ....

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CNN Your Money August 10, 2013 18:08:00

It. clearly. all he s done is split his company old and new. rupert murdoch owns the wall street journal among other things. he s trying to unlock that. the visionary he loves newspapers. he loves the industry. too much. that s why he hasn t unlocked it. absolutely. and also there s a sort of an old school nature to it. with bezos, the hope is that he will somehow not put a rocket up it but he will unlock the potential. let me talk about this. jeff bezos, john henry, warren buffett, they are good businessmen. if they are such bad deals, why do good businessmen want them so badly. some is self-interest in some cases. vanity plays in others. bezos is other. warren buffett loves newspapers. he s not looking to change the newspaper business. ditto for john henry. ....

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CNN The Situation Room August 6, 2013 21:54:00

Boston globe snatched up by the super wealthy. and perhaps the chicago times which could land in the hands of charles and david koch. i think what people are forgetting when we re talking about billionaires taking over the media, that s not exactly new. reporter: william randolph hurst of the hurst newspaper empire came from a family that made its fortune in mining. citizen kane loosely based on. i expect to lose a million dollars this year and next year. i ll have to close this place in 60 years. reporter: something bezos has in common. bezos can spend an enormous amount of money on the washington post without really taking too much of a dent in his own private fortune. ....

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