Amazon’s Jeff Bezos Unveils ‘Octocopter’ Drone Delivery Plan, Floors ’60 Minutes’ Crew: Video

By | Sunday December 1, 2013 @ 7:10pm PST

Amazon CEO Jeff Bezos had the 60 Minutes gang agog on Sunday night’s program when he surprise-announced Amazon’s plan to build an army of delivery drones that will drop purchases at your doorstep within 30 minutes. Here’s anchor Charlie Rose and the … Read More »

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Goodbye Washington Post Co., Hello Graham Holdings

By | Monday November 18, 2013 @ 1:59pm PST

The Washington Post is making good on a promise it made in August when it agreed to sell its flagship newspaper to Amazon founder Jeff Bezos. Washington Post paywallThe $250M deal closed October Read More »

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Washington Post Ownership Change Official

By | Tuesday October 1, 2013 @ 2:25pm PDT

As expected, founder Jeff Bezos has officially become the new owner of the Washington Post after buying the paper for $250 million in August. Publisher Katharine Weymouth made the announcement today in an emailed memo that staff reporters Tweeted around Tuesday afternoon: … Read More »

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Amazon Touts Media Deals As Q1 Earnings Fall

By | Thursday April 25, 2013 @ 1:48pm PDT

The numbers are mixed but encouraging enough to lift Amazon shares about 1.4% in after-market trading. The e-retailer generated $82M in net income, -36.9% vs the period last year, on revenues of $16.1B, +21.9%. Analysts expected revenues to … Read More »

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UPDATE: Amazon To Ship New Kindle Oct. 1

By | Thursday September 6, 2012 @ 11:10am PDT

UPDATE, 11:10 AM: It’s official — there’s a new Kindle. It’s called Kindle Paper White, costs $119 and will ship October 1. At 9.1 millimeters and 7.5 ounces, it is very slender. “Thinner than a magazine, lighter than a paperback,” Amazon CEO Jeff Bezos said as he announced the product in Santa Monica this morning. A higher-priced $179 Kindle Paper White has free 3G wireless. Both also have a bright light so you can read in the dark and it has eight weeks of battery life. It also has a timer that tracks individuals’ reading speed and can then tell them how long it will take them to finish a chapter or a book. A total of 180,000 books available on the Paper White are exclusive to Amazon, Bezos said.

The CEO today also unveiled the new Kindle Fire HD. The new 8.9-inch tablet is designed to be almost glare free, comes with dual speakers and advanced WiFi. With a few implied digs at the cost and limitations of Apple’s iPad, Bezos said the 32 GB and 4G wireless tablet will retail for $499 and ships November 20. “Is it a little bit more expensive? Yes. Is it worth it? Absolutely,” he told the crowd.

Amazon shares touched an all-time high today of $252.27. With an hour to go before the market close, the shares are up around 1.8% — in line with the overall market. (The S&P 500 is higher than it’s been since May 2008.) Read More »

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Amazon -11.5% In Early Trading, But Analysts Say The Growth Story Is Intact

By | Wednesday October 26, 2011 @ 8:00am PDT

Amazon startled investors last night with its report of a huge 3Q profit miss. The stock is off about 11.5% this morning from yesterday’s close of $227.15 before the announcement. But analysts are taking the disclosure in stride, saying that Amazon’s just going through some growing pains while CEO Jeff Bezos awaits a huge inflow of cash from sales of the company’s new Kindle Fire tablet. RBC Capital Markets analyst Ross Sandler maintained his “outperform” recommendation on the stock, although he trimmed the target price to $240 from $265. “We view these quarterly pullbacks as good opportunities to add to (investment) positions, and see the upcoming Kindle Fire product launch as the next catalyst that should allow for revenue upside in 2012,” he says. Credit Suisse’s Spencer Wang also trimmed his target, to $200 from $210, yet maintained his “neutral” position on Amazon. He considers it a “core holding in the sector” but urges investors to wait for ”a more attractive entry point.” Read More »

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Amazon -12% After Hours Following Big 3Q Earnings Miss

By | Tuesday October 25, 2011 @ 2:29pm PDT

The online retailer ended up with net profits of 14 cents a share — a far cry from the 24 cents that the Street expected. The company reported net income of $63M, down 72.7% vs last year’s 3Q, on … Read More »

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Fox Agrees To Movie And TV Streaming Deal With Amazon Prime

The news comes from a posting on the Amazon Prime site by the online retail company’s CEO Jeff Bezos. Here’s what he says:

I have big news for Amazon Prime members – we’ve just signed a deal with

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CBS Licenses 2,000 TV Episodes To Amazon Streaming Service

By | Wednesday July 20, 2011 @ 6:31am PDT

Look out Netflix…The deal brings old series including Star Trek, Frasier, and Cheers to Amazon Prime, increasing its library of streamable movies and TV shows to 8,000. Although the companies aren’t talking about the terms, Wells Fargo analyst Marci Ryvicker says it’s a “big positive” for CBS. Unlike the two-year deal that … Read More »

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