Amazon’s Bezos completes Washington Post purchase

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Amazon founder and CEO Jeff Bezos. (AP Photo/Reed Saxon)

Amazon founder and CEO Jeff Bezos. (AP Photo/Reed Saxon)

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 This material may not be published, broadcast, rewritten or redistributed.

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