Jeff Bezos To Acquire The Washington Post For $250M

Posted: August 5, 2013 in Uncategorized

TechCrunch

Yes, you read that right. The Washington Post Company just announced that it has reached an agreement to sell its newspaper publishing business to Amazon founder and CEO Jeff Bezos for $250 million.

“I, along with Katharine Weymouth and our board of directors, decided to sell only after years of familiar newspaper-industry challenges made us wonder if there might be another owner who would be better for the Post (after a transaction that would be in the best interest of our shareholders),” said Post Chairman and CEO Donald Graham in a press release. (The Graham family has owned a controlling stake in the Post since the 1930s.) “Jeff Bezos’ proven technology and business genius, his long-term approach and his personal decency make him a uniquely good new owner for the Post.”

In the same release, Bezos promises that “the Post’s values will not change.” He has supposedly asked Post CEO…

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