Yes, you read that right. The Washington Post Company just announced that it has reached an agreement to sell its newspaper publishing business to Amazon founder and CEO Jeff Bezos for $250 million.
“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),” said Post Chairman and CEO Donald Graham in a press release. (The Graham family has owned a controlling stake in the Post since the 1930s.) “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.”
In the same release, Bezos promises that “the Post’s values will not change.” He has supposedly asked Post CEO…
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