Amazon's Bezos completes Washington Post purchase
The Washington Post now belongs to Amazon founder Jeff Bezos.
The Washington Post Co. said Tuesday that it had completed the sale of the newspaper publishing business to Bezos, who said in August he was buying it for $250 million.
The soon-to-be-renamed Washington Post Co. is retaining the Kaplan education business, Slate magazine, TheRoot.com and Foreign Policy magazine, as well as the Post's headquarters building in downtown Washington. Bezos' newspaper will lease space in the building.
The Post, celebrated a generation ago for breaking the Watergate scandal, has been losing readers and advertisers to the Internet while watching its value plummet.
Bezos is buying the newspaper as an individual. Amazon.com Inc. is not involved.
Create a More Connected Minnesota
MPR News is your trusted resource for the news you need. With your support, MPR News brings accessible, courageous journalism and authentic conversation to everyone - free of paywalls and barriers. Your gift makes a difference.