Bezos’ Acquisition Of The Washington Post Is Now CompleteBy: Chris Crum - October 2, 2013
The Washington Post Company has officially completed the sale of The Washington Post to Amazon founder Jeff Bezos. The deal was first announced back in early August. Bezos would buy the publishing business from the company, including the newspaper.
The Washington Post’s Paul Farhi writes:
Bezos’s $250 million purchase was completed as expected with the signing of sale documents. The signing transfers the newspaper and other assets from The Washington Post Co. to Nash Holdings, Bezos’s private investment company.
As a reminder, The Washington Post does not become an Amazon property, as this wasn’t an Amazon acquisition. It was a Jeff Bezos acquisition. The price was reported to be less than 1% of Bezos’ personal net worth.
Bezos, in addition to The Washington Post, gets the Express newspaper, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing. He does not get Slate, TheRoot.com or Foreign Policy, which will all remain part of The Washington Post Company.
The WaPo Labs and SocialCode businesses, the company’s interest in Classified Ventures and certain real estate assets like the headquarters in Washington D.C. also remain with the company.
The Washington Post Company will be changing its name in light of the deal, but what that name will be has yet to be determined.
This is the first time in 80 years that The Washington Post hasn’t been run by the Graham family.