Amazon's Bezos completes Washington Post purchaseOctober 1, 2013 @ 3:09 pm
WASHINGTON (AP) - 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.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
50 Spots Lost
Jason Rantz says it's easy to confuse PARKing Day as evidence of a 'War on Cars'
Something to Prove
Danny O'Neil says the Broncos won't be the only team trying to recover from past defeat
10 people you can't escape at Oktoberfest
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.