Live! Amazon CEO buys Washington Post for $250 million
August 06, 2013  02:53

Jeff Bezos, the founder and chief executive of Amazon.com Inc., is buying the Washington Post Co.'s flagship newspaper and some related publishing assets for $250 million.

 

Mr. Bezos is buying the publishing business as an individual, and not in his capacity as CEO of Amazon, according to the  announcement. Washington Post Chairman and CEO Donald E. Graham said the company decided to sell the business "only after years of familiar newspaper-industry challenges made us wonder if there might be another owner who would be better for the Post."

 

Mr. Bezos's "technology and business genius, his long-term approach and his personal decency make him a uniquely good new owner for the Post," Mr. Graham said in the prepared statement.

 

Read the full report on WSJ

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