Washington Post. Co. will sell its flagship newspaper, The Washington Post, and affiliated publications to Amazon.com founder and CEO Jeff Bezos for $250 million, the Post announced Monday.
“The Post could have survived under the company’s ownership and been profitable for the foreseeable future. But we wanted to do more than survive,” said Donald Graham, the Post Co.’s chief executive, whose family has owned the paper for four generations. “I’m not saying this guarantees success but it gives us a much greater chance of success.”
The sale will likely be completed with Bezos as the sole owner within 60 days.
Perry is a News Writer for Talking Points Memo based in Washington D.C. Prior to TPM, she was a reporter-research at The New Republic and worked for her hometown paper, The Miami Herald. Perry can be reached at firstname.lastname@example.org.