Washington: 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.
Over nearly two decades, Jeff Bezos built Amazon.com from a scrappy online bookseller into an e-commerce empire, shook up the print publishing world with the Kindle e-reader and even started a space travel company.
Now he has bought The Washington Post for $250 million, purchasing one of the most celebrated US newspapers at a time when the print publishing industry is enduring steep declines in revenues and readership.
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