Amazon founder Jeff Bezos bought The Washington Post for $250 million on Monday, ending the four-generation reign of the Graham family.
As the traditional newspaper industry is undergoing steep declines in revenues and readership, the Associated Press zeroed in on the burning question: What happens now?
Bezos, in a memo to Post employees, promised "change ... over the coming years" and addressed the revolution taking place in the news business: "The Internet is transforming almost every element of the news business: shortening news cycles, eroding long-reliable revenue sources, and enabling new kinds of competition, some of which bear little or no news-gathering costs. There is no map, and charting a path ahead will not be easy. We will need to invent, which means we will need to experiment."