Amazon Founder Buys The Washington Post — In Cash
In news that shocks, well, probably everyone save for a few execs at The Washington Post
, the District's hometown paper was sold today to Amazon founder Jeff Bezos for a cool $250 million — in cash
, no less. “I understand the critical role the Post
plays in Washington, D.C. and our nation, and the Post
’s values will not change,” Bezos said
in an official announcement. Slate
and a handful of other properties will remain tied to the paper after the sale, and editorial leadership will remain largely unchanged for the moment.
The deal, which was conducted in nearly utter secrecy, brings an end to the Graham family's stewardship of the enterprise after four generations, and pretty soon, even the paper's name will change. While we can't fathom anything other than The Washington Post
being our city's paper of record, we can only hope for good things to come from Bezos' predictably tech-savvy approach to a struggling institution.
(The Washington Post
Photo: Courtesy of The Washington Post.