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Bezos buys The Washington Post; Obama vetoes Apple ban; Time Warner blacks out CBS; Ex-Goldman trader guilty of fraud; Government sues Bank of America

Media: Bezos buys The Washington Post

Amazon.com founder Jeffrey Bezos has snapped up The Washington Post, said Christine Haughney in The New York Times. Bezos agreed to pay $250 million for “the newspaper whose reporting helped topple a president and inspired a generation of journalists,” and will own the Post in a personal capacity. Despite the paper’s declining revenues, industry insiders were shocked this week when Washington Post Co. CEO and Chairman Donald Graham announced the deal at a staff meeting. “As the newspaper business continued to bring up questions to which we have no answers,” he said, “[we] began to ask ourselves if our small public company was still the best home for the newspaper.”

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