Why billionaires and tycoons are buying media assets

(Second Part)

On Monday, August 5, Amazon founder Jeffrey P. Bezos, paid $250 million (less than 1% of his $27 billion networth), including pension obligations, for the venerable Washington Post daily which had been owned and managed by the Graham family for four generations since 1933. Bezos is also from Washington, but the state. He says he doesn’t intend to relocate from Seattle to DC. His $137.4-billion Amazon empire is built on reading and books (he owns a quarter of the book business). He is used to a game of low risk and high reward.