The Washington Post Company just announced that Amazon founder and CEO Jeff Bezos is buying its publishing business, including The Washington Post newspaper for $250 million.
I bet you didn’t see that coming.
To be clear, Bezos is buying it. Not Amazon. It will not become an Amazon property.
“Everyone at the Post Company and everyone in our family has always been proud of The Washington Post — of the newspaper we publish and of the people who write and produce it,” said Donald E. Graham, Chairman and CEO of The Washington Post Company. “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). 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.”