Amazon acquires Twitch, the live stream video gaming site, for over $1 billion after Google withdraws from the purchase. The deal includes a cash pay of $970 million, nearly 20 percent of Amazon’s reserve revealed in the latest quarterly report. Amazon now owns a “YouTube” type platform with the ability to reach the young men. During 2013, over half of the total viewership watched video game playing for 20 hours weekly. Bezos:
Broadcasting and watching gameplay is a global phenomenon and Twitch has built a platform that brings together tens of millions of people who watch billions of games each month.
Bezos purchases the Washington Post, an American newspaper with a circulation of 474,767 subscribers. The $250,000,000 cash sale ends ownership of the paper by the Graham family. The paper has been in the family for the last four generations. Graham says:
Every member of my family started out with the same emotion — shock — in even thinking about [selling The Post] …. But when the idea of a transaction with Jeff Bezos came up, it altered my feelings.
Bezos will have sole ownership of the paper and the Post’s subsidiary properties. Bezos will remain in Seattle and continue to run the daily operations of Amazon. “I have a fantastic day job that I love,” he said.