Amazon.com founder Jeff Bezos' $250 million purchase of The Washington Post may well be the beginning of his forays into the media landscape in the nation's capital, predicts a top Silicon Valley financier.
Michael Moritz — the venture capitalist behind such new-media giants as Google, Yahoo, and PayPa1 — predicted to The Financial Times
that Bezos would combine the Post's digital operations with Politico.
Bezos would likely make the change very quickly, Moritz said.
He added that Bezos could stop printing the Post altogether and turn the publication into an online-only news source.
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The Times said that Bezos' purchase of the Post was done to advance his personal interests — and accumulating another D.C. media brand could further that goal.
“The cynics would say he’s buying the best lobbying voice in Washington, and I don’t think that’s far from the truth,” high-tech investor Roger McNamee told the newspaper.
Though Politico's traffic is down significantly from the presidential-cycle high in 2012, according to Alexa.com, the site has quickly become a force in Washington — and it has done so with an emphasis on a digital platform, Breibart.com
The Post, meanwhile, has seen their print circulation drop 40 percent over the last two decades.
Bezos, who started Amazon.com in 1995 and took it public within two years, is known for being a forward-thinker and risk-taker.
The Post is a universally recognized brand, but with Americans consuming their news increasingly online, acquiring Politico might be exactly the bold move he's likely to make, Breibart.com reports.
Politico's founders — Editor-in-Chief John F. Harris and Executive Editor Jim VandeHei — worked for the Post before establishing the website in January 2007.
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